Arbitrum IOU Token Trades Around $10 as Major Exchanges List ARB

With Ethereum (ETH) layer-2 network Arbitrum set to airdrop its tokens to users next week, community expectations have risen, pushing an IOU version to above $10 on little-known exchanges, HotBit and XT.com.

According to CoinMarketCap data, ARB IOU traded for as high as $10.30 on March 17 but has fallen to $9.5 at the time of writing. While the IOU token’s current price might not reflect the asset’s value when it launches, it shows the level of interest surrounding the token.

ARB IOU Price Performance (Source: CoinMarketCap)

The IOU asset price performance has drawn several community speculations, with many showing more optimism about the asset.

Jason Choi, an investor with crypto investment fund Tangent, said the ARB IOU token valuation places it at “a $100B FDV, making it the third most valuable crypto asset.” However, he added that he does not “think Hotbit IOUs are reliable.”

$ARB IOU contracts on Hotbit trading at $10, implying a $100B FDV, making it the third most valuable cryptoasset (fwiw I don’t think Hotbit IOUs are reliable) pic.twitter.com/Ku5B5wLTuW
— Jason Choi (@mrjasonchoi) March 17, 2023

Another crypto trader Ziv posited that the ARB hype could catapult the asset into the top 10 crypto assets by market cap. Other community members who share the same view believe ARB would profit from the current bull run of the crypto market.

Meanwhile, DeFi researcher Johannes mentioned that NFT marketplace Blur’s IOU token traded at a much higher valuation of $32 but dropped to around $0.8 at launch. Several others also predicted that the token’s value would dump at launch.