Cryptocurrency experts name a token that grew by 11,150% in a few days due to users' inattention

The little-known cryptocurrency ARbit (ARB) has grown by 2000% in a few days due to the inattention of users — traders mistakenly started buying up the token, confusing it with Arbitrum (ARB). Today, at 19:00, the Binance crypto exchange will list Arbitrum. It is expected that with a token volume of 10 billion, the value of each token can range from $ 0.1 to $ 1, so the asset is in demand right now.

As for the ARbit token, its value has so far increased by 10% over the past 24 hours, but over the past 8 days, it has risen from $ 0.24 to a peak of $ 0.027, which is an increase of 11,150%. The price of the cryptocurrency has dropped probably because traders realized that they were buying the wrong token.

According to analysts, the mistake with ARbit and Arbitrum is not the only one of its kind. At the end of February, crypto traders were pumping and dumping the BASE token after the announcement of the launch of Coinbase's Level 2 solution. The token grew by 350% and then fell as traders realized that it was the wrong digital asset. ARbit was launched back in 2015, but it is currently considered a dead project that is not developing.

As for the expected listing of the Arbitrum (ARB) token of the second-level Ethereum network, trading in pairs with the USDT stablecoin and bitcoin will open on March 23 at 19:00. Withdrawals will be available from March 24. The Huobi exchange announced the listing of ARB on the same date. Arbitrum developers have planned the airdrop of ARB for today with the subsequent transition to a decentralized management model.

The Arbitrum Foundation is expected to distribute 10 billion governance tokens, allowing their holders to vote on changes to the codes of the Arbitrum One and Nova networks. Users who can receive ARB will be determined using a specially developed scoring system. It is expected that the list of token holders will include those who have completed more than four transactions or interacted with at least four Arbitrum One smart contracts, as well as those who have deposited more than $ 50,000 in liquidity into Arbitrum.