Crypto Analyst Says, ‘Polygon Killer’ Aribtrum Won’t Reach $100
A well-known crypto analyst is telling traders to be realistic about what the new token for scaling Ethereum (ETH) called Arbitrum could be worth in the future (ARB).
In a new YouTube video, the anonymous host of InvestAnswers responds to the “false hopium” that the price of ARB could skyrocket to $100.
“If that were to happen, Arbitrum would have a full diluted market cap of $1.3 trillion. It’s never going to be worth that, okay? Just put things in perspective. Be careful what you read and do your numbers on the back of a napkin, don’t just say, ‘Oh, I can buy something for a dollar and sell it for $100.’ No, it’s not going to happen.”
The InvestAnswers tells his 443,000 subscribers that he is worried about how centralized Arbitrum is, how many whales control it, and how 87.2% of its tokens are still locked.
The InvestAnswers host says that Arbitrum has a fully diluted market cap of over $13 billion, which is already more than the fully diluted market cap of other established large-cap altcoins like Polygon (MATIC) and Solana (SOL).
Last week, Arbitrum had its first airdrop, where 12.75 percent of its tokens were given away for free. When it first came out, the asset was worth about $5.04, but only a few hours later, it was worth about $1.19.
At the time this was written, ARB was worth $1.16.
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