Failure of Arbitrum (ARB): the price fell 10 times
Ivan Danchuk- 2 mins
Arbitrum (ARB) is a fairly popular cryptocurrency among investors and traders. Its technology reduces transaction costs and increases block processing speed. However, there was a recent airdrop failure that led to a sharp drop in the price on exchanges.
Airdrop is the distribution of free cryptocurrency to users who fulfill certain conditions. In the case of Arbitrum (ARB), all Ethereum (ETH) holders had the opportunity to receive free ARB coins. However, due to the large number of users who wanted to receive ARB, the system could not cope with the high load.
At the beginning of the airdrop, about 3.5 billion ARB coins were sent, but due to network problems, only about 1.2 billion coins were successfully distributed. This led to many users not receiving their coins and a large drop in the price on exchanges.
After the airdrop failed, the price of ARB dropped 10 times on the exchanges, resulting in large losses for investors and traders. Although the price rose again later, many people were unhappy and confused by the situation.
Not only were the financial interests of investors and traders damaged by the airdrop failure, but also the credibility of Arbitrum’s (ARB) technology. Many people are asking whether this cryptocurrency and its technology can be trusted in the future. However, it should be noted that this is not a problem with the ARB technology itself, but only a problem with its implementation and airdrop management.
The ARB development team has already announced plans to conduct additional tests and improve the network to avoid similar problems in the future. They also plan to compensate users who did not receive their coins during the airdrop.
These events are a reminder that cryptocurrencies and blockchain technologies are not perfect and may experience errors and failures. However, it is important to remember that these technologies are still in their early stages of development and require additional improvements and testing.
Overall, the failure of the Arbitrum airdrop (ARB) has temporarily affected the price of the coins and the credibility of the technology, but the development team is already acting to fix the problem and improve the ARB network.
