Overwhelming Interest Crashes Arbitrum’s Website Before the Airdrop
Ahead of the ARB token claim event, Arbitrum's website and blockchain scanner were experiencing downtime due to high demand from users.
A couple of hours ago, users were prompted with a message saying that the serverless function was rate-limited.
However, users can still claim tokens directly from the smart contract, as the website is a mere front-end for the blockchain.
According to a tweet, over 85,000 users accessed the blockchain explorer Arbiscan within a 30-minute window as the claim went live.
Due to the airdrop of ARB to community members based on their prior network activity, which marks Arbitrum’s official transition into a decentralized autonomous organization (DAO), it is expected that the price action of ARB will be highly volatile on the first day.
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This was confirmed by Arbitrum developers last week.
Currently, the ARB token is available for trading on multiple exchanges, including Binance. At the time of writing Arbitrum’s native token is priced at $1.43 on Binance with a $500 million total trading volume.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
