Arbitrum token finds its way to OTC market before the airdrop

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Community users started dumping their to-be-airdropped Arbitrum tokens in the over-the-counter markets before the official drop arrives.

Arbitrum’s official transition into a decentralized autonomous organization , meaning ARB holders will be able to vote on key decisions governing Arbitrum One and Arbitrum Nova — networks that allow users to transact on the Ethereum blockchain with better speeds and lower fees.

OTC trading allows easy buying and selling of cryptocurrencies directly between a seller and a buyer. The process is usually very fast and funds are transferred directly from a bank account to the seller. In this case, when a price is agreed on by the buyer and seller, the seller receives payment from the buyer and then gives up the seed phrase linked to the eligible wallet.

Jack, who wants to remain anonymous, has explained to Cointelegraph that the craze to sell off the unreleased ARB tokens is based on speculations about the market cap of the tokens when launched. He explained that the price of one $ARB coin, when launched, could be as high as $1, so most people do not mind selling at $0.5 per token and giving room for a possible profit of $0.5 for the buyers.

Source: News Formal (newsformal.com)

 

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