As the launch of the Arbitrum ecosystem token –– ARB draws near, exchanges are taking a position to list the token. Binance today has announced it will list the token.
After being listed on Binance, users will then have access to more trading pairs, which is likely to make Arbitrum more popular. Trading spots in the ARB/USDT pair will begin on Binance at 17:00 (UTC) on March 23, 2023. However, users can begin depositing ARB in preparation for trade once the formal token claim begins at block heightblock height 16,890,400 on Ethereum, which is anticipated to occur around 2023-03-23 12:30 UTC (UTC). Also, withdrawals for ARB will be open from 2023-03-24 at 17:00 UTC.
In addition, within the next forty-eight hours after the spot trading launch, Binance will launch ARB as a new borrowable asset along with this new margin pair on the Isolated Margin Trading Platform.
Binance is set to provide its users with more trading and investment options in the cryptocurrency market with the addition of Arbitrum. Arbitrum is also perceived to have potential to become a leading layer-2 scaling solution, and many look forward to its further growth and development.Browse our partner-sponsored Glasses, with a variety of options to suit every taste and budget, available to buy online
The listing on Binance comes at a time when interest in layer 2 scaling solutions is at an all-time high. Ethereum, the second-largest cryptocurrency by market value, has endured high gas costs and lengthy transaction times due to scalability concerns. Layer 2 scaling solutions like Arbitrum try to fix these problems while also making the user and developer experience better.
Aside Binance, BitMEX has also launched an Arbitrum Futures trading market with 20x leverage. This according to BitMEX will give its users exposure to the Layer two network.
Binance has also revealed it will be removing some trading pairs from its spot market. These pairs are ATM/BTC, AVAX/GBP, KNC/ETH, PLA/BNB, WING/ETH and XNO/ETH. Binance further said users will still be able to trade the assets on other trading pairs available on the exchange.
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