ArbInu token (ARBINU) has gained 80% within the final 24 hours, displaying a greater than 150% improve in quotations at its peak. The rationale for ARBINU’s staggering worth motion was the announcement yesterday of the long-awaited airdrop of ARB, the native token of Ethereum’s main Layer 2 answer, Arbitrum.

As a reminder, the Arbitrum token, ARB, might be airdropped on March 23 because it was introduced yesterday. With a complete circulating quantity of 10 billion, 11.5% might be distributed to early customers of the community. Proper now, Arbitrum is the fourth largest blockchain by whole worth locked amongst all and second behind Ethereum by quantity within the final 24 hours, in accordance with DefiLlama.

What’s ArbInu (ARBINU)?

Builders are calling ArbInu the primary meme coin of Arbitrum, clearly impressed by the success tales of Dogecoin (DOGE) and Shiba Inu (SHIB). Based on Arbiscan, the token has a complete provide of 1 billion ArbInu, which brings its capitalization to $5.48 million in the mean time. The variety of token wallets is small, however there’s one which stands out from the gang, because it holds 26% of the whole provide.

Similtaneously the triple-digit proportion improve within the token’s worth, its buying and selling quantity additionally elevated, by 500%, in accordance with Nomics. Curiously, 78.8% of all ArbInu trades are on centralized platforms, which is atypical for such younger initiatives. This was made doable by the truth that the token has already been listed on two excessive quantity exchanges, BitGet and XT.