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Arbinu Meme Coin Skyrockets 400% in Five Days Amid $ARB Airdrop Frenzy
March 22, 2023
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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
The Arbinu meme coin on Arbiturm spiked more than 400% in five days after the Arbitrum foundation announced airdrop of $ARB.
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 $ARBINU staked.
By staking or providing liquidity with their Arbinu tokens, holders will share up to half of the 4% token tax.
The meme coin project has also announced having its token contract audited by Solidity Finance and announced its whitepaper on February 2. Arbinu ($ARBINU) is trading at $0.008058, up 23.7% in 24 hours.
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:
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Related News
Binance VIP Traders Informed of $4B Settlement Back in September
December 1, 2023
The exclusive gathering took place at a luxurious Singapore night club in September, where attendees engaged with Binance executives and probed about the potential settlement.
Binance reportedly hosted an exclusive dinner for its most significant market makers in September. The gathering, held at a prestigious Singapore nightclub, was an intimate setting where select VIP traders gained insights into the impending $4 billion settlement with the U.S. Department of Justice, according to a recent report from Bloomberg.
The private dinner, organized for Binance's top traders, unfolded in the upscale 1880 members-only club. Attendees, consisting of market makers and traders, engaged in discussions with Binance executives about the company's legal challenges. The conversations revolved around the potential $4 billion fine, leaving attendees convinced that Binance could afford and would settle such a substantial amount.
Attendees' Perspectives
Reports suggest that attendees, after breaking into smaller groups, sought clarification on Binance's legal troubles. They left the dinner with a heightened expectation of the $4 billion settlement, emphasizing the significant financial impact it would have on the exchange.
Former CEO Changpeng Zhao was notably absent from the gathering, with the then-head of regional markets, Richard Teng, representing the company.
In response to the reports, a Binance spokesperson disputed certain aspects of the event's depiction while refraining from specifying the inaccuracies, as per The Block. This discrepancy in accounts raises questions about the transparency surrounding Binance's legal challenges and its communication with stakeholders.
Implications of the Settlement
Binance’s $4 billion settlement with U.S. authorities, including the Department of Justice, Department of the Treasury, and the Commodity Futures Trading Commission, marked one of the largest corporate settlements in U.S. history.
The resolution concluded a criminal investigation into allegations of money laundering and sanctions violations, settling many of Binance's legal troubles in the U.S. However, Binance.US and Changpeng Zhao still face a lawsuit filed by the U.S. Securities and Exchange Commission.
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Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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