OTC Markets Begin Selling Unissued Arbitrum Tokens – ForkLog

The Arbitrum community has begun selling unreleased ARB tokens on over-the-counter (OTC) markets.

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have secured 6-figs of $ARB OTC at an avg. price of $0.98

wish me luck

— Cole (@cole0x) March 21, 2023

An investor under the pseudonym cole0x said that he managed to sell a “six-figure amount” of future coins at a price of $0.98.

The process of selling unissued tokens on OTC markets takes place directly between the parties. Typically, the buyer sends funds to the seller’s bank account. The latter, upon reaching an agreement on the price, transfers access to the wallet, to which the coins should be credited after the airdrop, refusing his seed phrase.

Courses under this scheme can vary significantly. Anonymous user said Cointelegraphthat the hype surrounding ARB early sales is based on assumptions about the market cap of the token at launch.

The expectations of market participants regarding the future price of the token are mostly optimistic. User under the nickname Viperr.eth said that he managed to sell unreleased ARB at the rate of $1.1.

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$ARB already selling for over $1.10 on OTC groups.

Love to see it. pic.twitter.com/Od8eGSTB8m

— Viperr.eth 🐍 (@CryptoSources) March 18, 2023

The BitMEX exchange has launched ARBUSDTM23 contracts, which are futures for future tokens.

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📣 A new @arbitrum futures listing is LIVE on BitMEX…

…meaning users can now long/short $ARB $USDTwith up to 20x leverage.

Contract deets: pic.twitter.com/MlPlbsQ9hW

— BitMEX (@BitMEX) March 20, 2023

At the time of writing, the quotes of the new instrument are in the region of $1.363, and at the peak the price reached $1.77.

The Arbitrum developers have scheduled an airdrop of the token for March 23, followed by a transition to a decentralized governance (DAO) model.

The team will distribute 44% of the total supply of 10 billion ARB to early adopters and investors. In addition, the community and the DAO will receive assets that will allow them to control 56% of the votes. The first stage includes the distribution of 12.75% of the total number of coins.

Cryptocurrency exchanges Binance and Huobi set a listing date new coin on March 23.

Recall that in March 2023, several security companies warned the community about fake sites with ARB airdrops.

Later, Arkham experts reported that the hacker sent small amounts of Ethereum to several hacked wallets to redirect Arbitrum tokens.

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