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

As a reminder, the Arbitrum token, ARB, will likely be airdropped on March 23 because it was introduced yesterday. With a complete circulating quantity of 10 billion, 11.5% will likely be distributed to early customers of the community. Proper now, Arbitrum is the fourth largest blockchain by complete worth locked amongst all and second behind Ethereum by quantity within the final 24 hours, in line 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). In accordance with Arbiscan, the token has a complete provide of 1 billion ArbInu, which brings its capitalization to $5.48 million in the intervening time. The variety of token wallets is small, however there may be one which stands out from the group, because it holds 26% of the overall provide.

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