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HomeCrypto AnalysisSignificant increase in Arbitrum search after announcement of airdrop

Significant increase in Arbitrum search after announcement of airdrop

Google data has shown a significant increase in searches for Arbitrum, the largest second-layer expansion system on Ethereum, in the past 24 hours following Arbitrum Foundation’s announcement of an airdrop scheduled for next Thursday. Arbitrum has particularly caught the attention in China, where the country dominates the “interest by region” category on Google Trends.

The data indicates that Arbitrum is attracting significant interest in emerging countries. Arbitrum’s total market capitalization is $1.66 billion, distributed across derivative exchanges, decentralized currency exchanges, and lending protocols. The new currency is part of Arbitrum’s transition to a Decentralized Autonomous Organization (DAO) that includes voting and proposals for token holders.

The tokens will be distributed to eligible users on Thursday, March 23, with 11.5% of the total supply allocated to Arbitrum users. Arweave follows in the footsteps of Optimism, the leading second-layer expansion system that distributed tokens last April.

Optimism’s market capitalization is $792 million, with a market cap-to-total locked value ratio of 0.84, according to DefiLlama. Given that Arbitrum has more than twice the market capitalization secured on its blockchain, the token’s market value is expected to be around $2 billion using the same ratio.

SourceCoinDesk

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