Arbitrum, a blockchain based on Ethereum network, has gained immense attention recently. It launched its token ARB airdrop on March 23 and within that day, has proven to be a tremendous success. The airdrop distributed 1 billion ARB tokens to Ethereum followers and was so popular that theARBitrum website and blockchain was down due to the high demand. As a result, the market capitalization of the coin hit around $1.5 billion. The ARB’s claim and trading had a record of 2,728,907, surpassed Ethereum and its competitor Optimism. More importantly, the token price hit its highest value of $11.80 on its launch day.

One of the many facilitys that Arbitrum provides is that it allows users to transact with lower fees. Popular web3 companies like Uniswap, Opensea, and Aave have already moved to Arbitrum to take advantage of its similarity to the Ethereum blockchain. Furthermore, all investors and team tokens are subjected to four-year lockups, with the first unlock happening in one year followed by monthly unlocks for the remaining three years.

However, as much growth it brought to the crypto market, Arbitrum users must stay aware of the potential scams. Scam accounts have been existent in the name of Arbitrum on twitter, which could cause users to fall into trouble in hopes of making a profit. It's important to remember that users must be extremely cautious when dealing with the cryptocurrency world and not to fall into such scam.



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