$ARB Token Drops to Exchanges After Turbulent Launch

• The launch of the $ARB token was highly anticipated and saw more than $2 billion in trading volume within 24 hours.
• Bitcoin remains strong at above $28,000, while gold is just under $2,000 and silver is motoring at $23.37 an ounce.
• Bitcoin dominance is on the rise while altcoins could experience a surge if this trend reverses with the April 12 Shanghai hard fork looming.

Arbitrum’s $ARB Token Launch

The launch of Arbitrum’s much-anticipated $ARB token has resulted in more than $2 billion worth of trading volume in its first 24 hours. The launch wasn’t without its issues as claimants were unable to claim their tokens due to the deluge of traffic on Arbitrum’s landing page crashing it. This led to extreme volatility in the token price with Coinmarketcap having it start trading at more than $11 before settling down towards a valuation of between $1 to $2 dollars currently.

Crypto Hedging Against Bank Nerves

With recent bank scares and central banks printing currency to prop up the system, many are looking for alternative assets outside of banking systems with which to hedge their wealth such as crypto, bitcoin and precious metals like gold and silver. At time of writing, Bitcoin remains strong at above $28,000 while Gold is just under 2K and Silver has reached 23 dollars an ounce so far today.

Bitcoin Dominance On The Rise

Bitcoin’s dominance over other cryptocurrencies continues to rise as it surpasses 48%. This could mean that short term altcoin surges may occur depending on how ETH/BTC pair will react going into April 12th’s Shanghai hard fork event when Ethereum might start gaining strength again after dropping 11% against Bitcoin over the past couple weeks.

Disclaimers

This article is provided for informational purposes only and should not be taken as legal or financial advice.

Conclusion

Despite some initial issues at launch, Arbitrum’s highly anticipated$ARB token saw more than 2 billion worth of trading volume within 24 hours after being released onto exchanges which then caused intense volatility but eventually settled down towards a reasonable valuation between 1- 2 dollars per token. With bank scares amplifying people’s need for alternative asset hedging options such as crypto, bitcoin dominance remains high but could potentially reverse if ETH/BTC pair turns around come April 12th’s Shanghai hardfork event when Ethereum might start gaining strength again