After a Frenzied Airdrop Day, 30% of Eligible Wallets Still Haven't Claimed ARB
Almost 190,000 addresses still haven’t claimed their ARB airdrop, following a tense period of competing for rewards.
30% of Eligible Wallets Have Yet to Claim ARB Following Frenzied Airdrop
According to Nansen, over 320 million ARB tokens remain unclaimed after a grueling airdrop process from the layer-2 solution Arbitrum. Dune Analytics data reveals that nearly 190,000 eligible addresses, or about 30% of users, have yet to receive their tokens.
Token Claim Statistics from Arbitrum’s Airdrop
Source: Dune Analytics
Arbitrum has announced that eligible users have 185 days left to claim their tokens.
Remember #Arbinauts, you have 6 months to claim your tokens! Gas fees will be quite high, and there will be server congestion.
— Arbitrum (💙,🧡) (@arbitrum) March 23, 2023
On the other hand, around 113.8 million ARB from 71,168 wallets have been deposited on centralized exchanges, signaling potential profit-taking moves. Meanwhile, 146.1 million ARB from 48,724 wallets have been sold on decentralized exchanges (DEXs), with Uniswap hitting an ATH close to $10.
ARB Deposits on DEXs and CEXs to Date
Source: Dune Analytics
Price and Trading Volume of ARB on Uniswap in Recent Hours
Source: Dune Analytics
As reported by Coin68, Arbitrum announced the ARB airdrop to early supporters on March 23. Over 625,000 wallets received airdrop rewards from a total allocation of 1.162 billion ARB, which represents 11.62% of the current 10 billion ARB supply. Additionally, Arbitrum allocated 113 million ARB to projects operating on this layer-2 network as rewards for users. This led to unprecedented activity on the Arbitrum network just before the airdrop.
We understand there has been difficulty connecting to the foundation site and claiming tokens.
— Arbitrum (💙,🧡) (@arbitrum) March 23, 2023
These issues are now resolved, and claiming is well underway.
We greatly appreciate everyone's patience throughout these times of exceptionally high traffic.
Please read 🧵👇 pic.twitter.com/pdIyI2bumW
By the evening of March 23, due to massive traffic, both the Arbitrum.foundation website and other token claim support pages experienced outages or delays, causing users to struggle before successfully claiming their airdrop.
During this period, ARB saw significant price fluctuations as major exchanges listed the token. On Bybit, the token spiked to $106 at one point. Binance unexpectedly brought forward its listing schedule, but overall, the world’s largest exchange maintained ARB’s price relatively well over the past 11 hours.
Currently, ARB is trading around $1.42, having briefly peaked at $1.60 on Binance.
15m Chart of ARB/USDT on Binance at 09:35 AM on March 24, 2023
