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Arbitrum experienced significant network congestion and revenue surge due to the chaotic LayerZero airdrop.

Arbitrum's (ARB) price is close to forming a new all-time low at a time when most of the altcoins are forming all-time highs.

Arbitrum recorded a sharp surge in daily revenue on Thursday as transactions skyrocketed amid the LayerZero (ZRO) token claim.

TL;DR The launch of LayerZero's ZRO token on June 20 caused a 16,680% increase in Arbitrum's daily revenue, reaching $3.43 million. To claim the ZRO token, users must donate 10 cents in USDC, USDT, or ETH per token, which increased gas fees on ARB to an average of 89 cents.

This event set a record day for Arbitrum rollups, totaling $3.43 million in revenue and $3.29 million in net profit. The LayerZero airdrop caused a surge in transactions as users rushed to claim tokens.

The motivation for this peak is the launch of the token ZRO by LeayerZero.

Amid LayerZero token claims, Arbitrum registered $3.43 million in revenue on June 20, compared to just $20,000 the day before.

LayerZero's “not an airdrop” ZRO token airdrop has spurred a new peak for Arbitrum's daily revenue.

LayerZero, a protocol designed for easy communication between blockchains, has launched its native token, ZRO. The foundation announced an airdrop, which went live a few hours later with a strategic allocation and anti-sybil measures. The token has been launched with a fixed supply of 1 billion, of which 38.3% is reserved for community members, 32.

The price of Arbitrum's governance token, ARB, has been experiencing a significant slump, nearing its all-time low. However, despite this downward trend, the market capitalization of ARB has witnessed substantial growth, expanding by over 75% to reach $2.23 billion.

Arbitrum, a prominent Layer 2 blockchain solution, has gained substantial attention in the cryptocurrency sector due to its innovative technology and significant total value locked (TVL). As we look towards the future, Arbitrum's native token, ARB, is expected to experience notable price changes.

OKX announced wallet maintenance for ARB, OP, LINEA, MANTA, METIS, BASE, STARKNET, MXC, LSK, and Zksync Era networks, suspending deposits temporarily.

The Infinite Launchpad proposal that Arbitrum (ARB) made recently has also invited a lot of negativity from community members. The program has proposed a massive $10 million fund to enhance project development by establishing a community and conducting market surveys, entrepreneur-in-residence programs, and venture capital.

Three cryptocurrencies will unlock over $150 million in tokens this week, which cryptocurrency traders should avoid having substantial exposure to. These unlocks have the potential to flood the market, leading to increased selling pressure and significant price fluctuations.

TL;DR ArbitrumDAO votes to implement the BoLD dispute resolution protocol. BoLD will enable permissionless validation and improve chain security. The update marks a move towards full decentralization.

Amidst the current global market slow down with BTC price and other major altcoins such as Ethereum and Solana, trying to make a recovery, new platforms and technologies spring up, providing appealing opportunities for investment. Arbitrum, a layer 2 scaling solution for Ethereum is one such platform.

Binance completes integrations of Curve (CRV) on Arbitrum One and Optimism networks, enabling deposits and withdrawals.

The average fees on the largest layer-2 (L2) blockchain, Arbitrum, witnessed a massive increase as the daily on-chain transactions surged. Arbitrum is currently the largest L2 network with a TVL of $2.97 billion.

Binance enables CRV deposits and withdrawals on Arbitrum One and Optimism.

Arbitrum DAO, a trailblazer in block chain innovation, has made a monumental decision to inject a substantial $222 million into the Ethereum layer-2 gaming ecosystem. This strategic investment underscores Arbitrum's unwavering commitment to driving progress, fostering innovation, and empowering communities within the gaming sector.

Arbitrum's (ARB) price drop below $1 may have provided an opportunity that has not appeared for some time. As of this writing, the token's price was $0.94, a 56.90% decrease in 90 days.

A new proposal has already raised much controversy in the cryptocurrency community. Crypto Twitter is discussing whether Arbitrum's (ARB) Reputation NFTs can be used for claiming retroactive airdrops in the future.

The Arbitrum Foundation, a Decentralized Autonomous Organization (DAO) tasked with developing and nurturing the Arbitrum ecosystem, has approved the start-up of a support fund aimed at developing projects in its gaming ecosystem. The organization has revealed plans to distribute a whopping $216 million to improve its gaming ecosystem.

Notably, the ARB ecosystem will be undergoing a token unlock event on June 16, 2024.