Arbitrum enters the top 40 after the AirDrop – Top 10 ARB holders hold 94.41% of the circulating supply

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Following the Arbitrum token AirDrop , ARB has become one of the top 40 cryptocurrencies as it currently holds the 39th largest market valuation out of more than 23,000 cryptocurrencies listed. Currently, there is a circulating supply of 1,275,000,000 ARB and the Arbitrum Foundation's DAO Treasury holds 3.52 million, or 35.27% of the AirDrop supply.

The top 10 ARB addresses hold 94.41% of the circulating supply

At the time of writing, Arbitrum's native governance token, ARB, is currently the 39th largest cryptocurrency by market capitalization. The Ethereum layer 2 scaling project token has a larger market valuation than Optimism's governance token, OP, currently at 71st place by market capitalization.

The overall market valuation of ARB is $1.57 billion and the token price is currently hovering around the $1.22 mark. Data from Dune Analytics indicates that 968.71 million of the 1.275 billion ARBs have been requested to date, representing 83.4% of claimable tokens.

Arbitrum enters top 40 after airdrop – top 10 ARB holders hold 94.41% of circulating supply

Source: TradingView

Currently, there are 247,700 unique ARB holders and the top 10 addresses hold 94.41% of ARBs in circulation. The Arbitrum Foundation's DAO Treasury holds about 3.52 million ARB and the second largest address holds 2.69 million ARB.

Exchanges that hold a significant amount of ARB include Bybit, Kucoin, Mex Global, and Bitget, as all four exchanges have addresses in the top 25 largest ARB holders. On March 23, ARB hit an all-time high and an all-time low on the same day.

Today's price is 89% below the recorded all-time high of $11.8 and 11.5% above the all-time low of $1.1. ARB's trading volume has increased significantly over the past two days, with $886 million in trading volume over the past 24 hours.

The five most active crypto exchanges in terms of ARB trading volume include Binance, Bitget, Okx, Uniswap (Arbitrum instance) and

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