Arbitrum Token Settles at $1.38 Amid Airdrop Claim Chaos

The Arbitrum token (ARB) is now trading at around $1.38 across centralized and decentralized exchanges after a turbulent launch.

There has been a total of $27 million in trading volume in the first hour since the claim opened, according to CoinGecko, which aggregates token prices from exchanges like Uniswap, Kucoin and Bybit.

The front-end of the Arbitrum website, which is where the majority of users will claim tokens, remains down under heavy server load. Users can still claim their airdrop by executing a command directly with the smart contract.

Prices are expected to be volatile after the claim website comes back online.