Arbinu meme coin’s value surged by over 400% in 5 days after the announcement of the $ARB airdrop. The recent staking launch and token burn may have also affected the rally.
The New Memecoin is Here
With the Arbitrum ecosystem growing rapidly without a governance token for the last year, the $ARB airdrop would be one of the most anticipated events this year.
The total circulation of $ARB will be 10 billion. Of those tokens, 56% will be controlled by the Arbitrum community – 11.5% by the community and 1.1% by DAOs within the Arbitrum ecosystem. Offchain Labs, the company that built Arbitrum, will receive 44% of the rest of Arbitrum’s circulation.
It is possible that there are other factors guiding Arbinu’s recent rally. The meme coin has also been burning $ARBINU tokens on a weekly basis and burning 1% of all transactions. According to Arbinu team, the weekly burns make $ARBINU coins more valuable every Saturday.
In the most recent ‘ARBIBURN,’ on March 18, 1,969,000 Arbinu worth $15,000 USD were burned. This brought the token’s circulating supply to 87% of the total. Worth noting the total supply of $ARBINU is 1 billion.
Moreover, the meme coin project has launched staking on its platform recently. There are currently 830 $ARBINU stakers with 210,054,761 $ARBINU staked.
What is Arbinu:
Arbinu is a community-owned, fair-launched token created to provide a home for all Arbitrum members. According to Arbinu, the organization serves as a family where everyone has a seat at the table and can freely express themselves.
Learn more about Arbinu:
Source : bsc.news
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