ARB Top Airdrop Receivers Continue to Hodl: Tokens’ Value Jump by $7M

• Top receivers of the ARB DAO airdrop continue to hold 70% of the tokens. 
• The value of the airdropped token soared in the past day by $7M as ARB hit a new ATH. 
• ARB currently sells at $2.28 apiece, a slight drop from the recently recorded ATH of $2.38.

Top beneficiaries of the Arbitrum DAO airdrop continue to hodl the majority of the tokens they received over eight months ago, on-chain data analytics platform SpotOnChain reported. 

In a post on social media platform X (formerly Twitter), the data tracker noted that four of the ten airdrop receivers still hold 70% of the tokens they received. Currently, the tokens held by the accounts sum up to 15.74M ARB, worth around $35M at current market prices. 

Meanwhile, at the time of SpotOnChain’s report, ARB’s value was on an upward climb. In that period, the token hit a new all-time high of $2.38 following a 23% increase. According to SpotOnChain, the sporadic rise in ARB’s price saw the worth of the tokens held by the DAOs increase by $7.08 million.

However, the upward trend has since cooled, data from CoinMarketCap reveals. At the time of press, the token is exchanging hands at $2.28, up 19.60% in the …

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