Binance to List Arbitrum (ARB) for Spot Trading Pairs with BTC and USDT, Boosting Interest in Layer 2 Scaling Solutions for Ethereum. Learn about ARB’s Optimistic Rollup Technology, Governance Token, and Withdrawal Status in this Article.
Binance, one of the leading cryptocurrency exchanges in the world, has announced that it will list Arbitrum (ARB) and will open trading for the new spot trading pairs ARB/BTC and ARB/USDT on March 23, 2023, at 17:00 (UTC). This news is significant for the crypto community as it indicates a growing interest in layer 2 scaling solutions for Ethereum.
Users can begin depositing ARB in preparation for trading once the official token claiming is live at the Ethereum block height of 16,890,400, estimated to be around 2023-03-23 12:30 (UTC). Withdrawals for ARB are tentatively set to open on March 24, 2023, at 17:00 (UTC). However, the actual withdrawal status can be viewed on the withdrawal page.
The best part of this news is that there is no listing fee for ARB on Binance. This means that more users can access and trade ARB without paying additional fees. Additionally, Binance will add ARB as a new borrowable asset with this new margin pair on an Isolated Margin within 48 hours from March 23, 2023, at 17:00 (UTC), for the ARB/USDT pair.
Arbitrum is a Layer 2 scaling solution for Ethereum that supports Ethereum applications. The platform uses optimistic roll-up technology to group batches of transactions and saves on gas fees. The ARB token is used as the native governance token of the platform.
The Arbitrum project has gained a lot of attention in recent times due to the increasing congestion and high fees on the Ethereum network. The platform offers a more efficient and cost-effective way to scale Ethereum and has already seen significant adoption.
Binance’s decision to list ARB is a clear indication of the growing interest in layer 2 scaling solutions for Ethereum. As more developers and projects move to layer 2 solutions, the demand for tokens like ARB is expected to grow. This listing on Binance will provide more liquidity and exposure to the ARB token, making it more accessible to users worldwide.
