Bitfinex Set to Launch Arbitrum’s Native Token ARB

03/21/2023 05:22 • NFT Newsflash • 177 views

According to the official announcement, Bitfinex will launch Arbitrum’s native token ARB. ARB deposits will be opened around 10:00 a.m. World Standard Time on March 22, 2023. ARB trading will begin around 2pm world standard time on March 23, 2023, supporting ARB/USD and ARB/USDT trading pairs.

Bitfinex will go live with Arbitrum (ARB)

Bitfinex is set to launch the native token of Arbitrum, ARB, according to an official announcement. With the hype and increasing demand for ARB, Bitfinex has taken a great leap to open ARB deposits to the public, effective March 22, 2023, at around 10:00 a.m. World Standard Time. Trading of ARB will commence the following day, March 23, 2023, at approximately 2 p.m. World Standard Time, supporting ARB/USD and ARB/USDT trading pairs.

What is Arbitrum?

Arbitrum is a protocol that runs on top of Ethereum, providing a fast and affordable way to execute smart contracts. It seeks to address the scalability and congestion issues of the Ethereum network. With Arbitrum, developers can deploy smart contracts on a separate layer, making code execution much more efficient and fast.

What is ARB?

ARB, the native token of Arbitrum, is used as a means of incentivization for validators and users of the network. ARB is also used to pay transaction fees, which are significantly lower than fees on the Ethereum network. With increasing adoption of Arbitrum, the demand for ARB is predicted to grow, leading to an overall appreciation of the token’s value.

Why Should You Consider Trading ARB?

With the expected launch of ARB on Bitfinex, traders are expected to take advantage of the token’s wide range of use-cases, including trading, staking and as a store of value. At the time of writing, ARB has a circulating supply of 500 million tokens, with a maximum supply of 1 billion tokens. This relatively low maximum supply means that ARB has a strong potential to experience a high degree of price appreciation, especially with its wide adoption across various verticals.

How Is Bitfinex Helping to Boost ARB’s Popularity?

Bitfinex has always been ahead of the curve when it comes to listing and trading promising digital assets. By adding support for ARB, Bitfinex is not only providing its users with a new asset to trade, but also helping to expand the adoption of Arbitrum as a protocol.

How to Trade ARB on Bitfinex

To trade ARB on Bitfinex, users will be required to deposit the token into their accounts, following the guidelines provided by Bitfinex. After the deposit is successfully confirmed, users can then proceed to the trading platform to buy or sell ARB.

Conclusion

With the launch of ARB on Bitfinex, the anticipation and excitement surrounding the token are expected to increase rapidly. The unique value proposition that it offers, combined with Bitfinex’s commitment to listing and trading promising digital assets, suggests that this move could be a step towards mainstream adoption of ARB as one of the most valuable tokens in the market.

FAQs

What is Arbitrum?

Arbitrum is a protocol that runs on top of Ethereum, providing a fast and affordable way to execute smart contracts. It seeks to address the scalability and congestion issues of the Ethereum network.

What is ARB?

ARB, the native token of Arbitrum, is used as a means of incentivization for validators and users of the network. It is also used to pay transaction fees, which are significantly lower than fees on the Ethereum network.

How can I trade ARB on Bitfinex?

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