Arbitrum does not have a token, meaning it relied on the organic growth of its decentralized finance ecosystem to attract users to its platform. It is possible, though, that Arbitrum’s usage numbers have been inflated somewhat by bots designed to farm the platform’s yet-to-be-announced token. (When crypto protocols announce tokens, they frequently “airdrop” some of them as a reward to existing users.)
Related posts
-
Mantra surges 22% despite Bitcoin sell pressure, Multiverse shines
Mantra (OM) is up over 8% in the past 24 hours, amid broader crypto market volatility.... -
7 Events That Could Shift the Crypto Market Landscape in an Instant
The cryptocurrency market finds itself in a challenging situation,... -
XRP Price Crashes 15%, Slips Under $0.40: Difficult Recovery Ahead
Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious...