• The $ARB token has just been launched, with more than $2 billion in trading volume recorded in the first 24 hours. Despite initial issues that prevented eligible users from claiming their tokens, the token has since experienced extreme volatility and is now trading between $1-$2.
• Elsewhere, Bitcoin remains strong at over $28,000, gold and silver are also performing well. Bitcoin dominance is on the rise and some expect an altcoin surge in the short term.
• Finally, Ethereum is down 11% against Bitcoin over the last few weeks but may start to gain strength as we approach the April 12 Shanghai hard fork.
Launch of ARB Token
The launch of the highly anticipated Arbitrum (ARB) token was a huge event for many crypto enthusiasts, with more than $2 billion in trading volume being recorded within 24 hours. Initially there were some issues that prevented those who were eligible for the airdrop from claiming their tokens due to a deluge of would-be claimants crashing the landing page. However after exchanges started trading ARB, it experienced extreme volatility and dropped to a more reasonable price range of $1-$2 per token.
Crypto Profits From Bank Nerves
Bitcoin is currently strong at above $28k while precious metals gold and silver are also performing well – gold at just under $2000 and silver at around $23 an ounce so far today. These developments follow recent bank scares which have caused many investors to look to assets outside of banking systems such as bitcoin, crypto and precious metals as hedges against their wealth. As a result of this increased attention on cryptocurrency investments, bitcoin dominance is increasing while some anticipate an altcoin surge in the near future – particularly with regards to ETH/BTC pairs potentially turning around given Ethereum’s 11% drop against Bitcoin over the last couple of weeks.
At time of writing, ARB is currently trading at:
• Coinmarketcap – $1.42
• Binance – $1.49 • Kucoin -$1 .41
Given its turbulent launch period, investors should be aware that further fluctuations can be expected until enough stability has been achieved for market prices to settle down into a more consistent pattern. In addition those interested in taking advantage of any potential arbitrage opportunities should keep an eye out for possible gaps between different exchange prices closing up over time as trades become more established within markets themselves. Lastly Ethereum could potentially start gaining strength leading up to its April 12th Shanghai hard fork event so this will certainly be worth watching closely by both traders and investors alike!
This article is provided for informational purposes only and not offered or intended to be used as legal tax investment financial or other advice