Binance, one of the largest cryptocurrency exchanges in the world, recently announced that it will be listing Arbitrum (ARB) on its platform. This is exciting news for the crypto community as ARB is a Layer 2 scaling solution project for Ethereum that supports Ethereum applications. In this article, we’ll take a closer look at what ARB is and what Binance’s plans are for its listing.
What is Arbitrum (ARB)?
Arbitrum is a Layer 2 scaling solution project for Ethereum that utilizes optimistic rollup technology to group batches of transactions to save on gas fees. This technology allows Ethereum developers to build and deploy decentralized applications (dApps) with much lower transaction fees and faster confirmation times. It is a promising solution to the scalability issues that Ethereum has faced in recent years.
ARB is the native governance token of Arbitrum, and it is used to incentivize validators to secure the network and to govern the protocol. Holders of ARB can vote on proposals related to the protocol’s development and governance.
How to Trade ARB on Binance
Binance has announced that it will be listing ARB with two new spot trading pairs: ARB/BTC and ARB/USDT. Trading for these pairs is tentatively set to open on March 23, 2023, at 17:00 (UTC). This news is exciting for traders who are interested in investing in ARB as it will provide greater liquidity and accessibility for the token.
Users can start depositing ARB in preparation for trading once the official token claiming is live at the Ethereum blockheight of 16,890,400, estimated to be around March 23, 2023, at 12:30 (UTC). Withdrawals for ARB are tentatively set to open on March 24, 2023, at 17:00 (UTC). It is important to note that the withdrawal open time is an estimated time, and users can view the actual status of withdrawals on the withdrawal page.
One of the most exciting aspects of Binance’s listing of ARB is that it will be added as a new borrowable asset with a new margin pair on Isolated Margin. This will enable traders to borrow ARB to increase their leverage and potentially increase their profits. The new Isolated Margin Pair is ARB/USDT, and it is expected to be available within 48 hours from March 23, 2023, at 17:00 (UTC). For more information on specific limits and rates, users can refer to the Margin Data.
Conclusion
The listing of ARB on Binance is exciting news for the crypto community as it will provide greater liquidity and accessibility for the token. ARB is a promising project that addresses the scalability issues of Ethereum and has the potential to attract more developers and users to the ecosystem. With the addition of ARB as a new borrowable asset on Isolated Margin, traders will have more opportunities to profit from the token. It will be interesting to see how the market reacts to Binance’s listing of ARB and how it will affect the token’s price and adoption.