Best Arbitrum Network (ARB) Tokens to Buy in 2024

Arbitrum (ARB) is a layer 2 network for the Ethereum blockchain, enabling ERC-20 tokens to operate more efficiently. Not only in terms of lower fees but increased scalability.

In this guide, we explore the best Arbitrum network tokens to buy in 2024. Read on to discover trending ARB tokens and learn more about this innovative blockchain infrastructure.

A Closer Look at the Best ARB Coins to Buy 

Choosing the best ARB tokens to buy is no easy feat. After all, CoinMarketCap states that over 200 projects are now compatible with Arbitrum.

Read on to discover our analysis of the best Arbitrum network cryptocurrency projects.

1. AiDoge ($AI) – Overall Best Arbitrum Token to Buy

Those looking to maximize investment gains might consider AiDoge one of the best Arbitrum network tokens to buy. This is a new cryptocurrency project that is currently in presale. This enables early investors to secure a discounted price on its native token, $AI. More on the presale shortly.

In a nutshell, AiDoge is developing a text-based tool that can instantly create memes. The technology is backed by artificial intelligence and operates on the blockchain. For instance, suppose an AiDoge user types in the following text prompt; “When you realize it’s Monday tomorrow. but you’re still in Friday mode“. The AiDoge tool will then create a suitable meme alongside an image. This takes just seconds, and each meme is unique.

Moreover, users can prove ownership of the unique memes they create via NFTs. Put simply, each meme can be backed by an NFT, so creators are covered in the event it goes viral. AiDoge is also building a public wall that showcases its most popular memes. This is determined by the AiDoge community via a voting system. In terms of its native token, $AI, this has a significant use case – it’s required to create memes.

More specifically, users need to buy AiDoge credits to generate new memes and the only supported currency is $AI tokens. The developers behind AiDoge believe that this ‘buy-to-generate’ framework will create unprecedented demand for its tokens. Another use case for Ai tokens is that they can be staked. This enables users to passively earn free credits, which can then be used to create new memes.

Now onto the presale – AiDoge has already raised over $3.5 million from early investors. This signals that the broader markets believe that this could be one of the best crypto presales in 2024. Not only does the AiDoge presale offer exposure to the project from the ground up but a discounted entry price too. Currently, the presale offers each $AI token for $0.000028. But by the end of the presale, $AI tokens will be priced at $0.0000336.

2. Arbitrum (ARB) – Governance Token of the Arbitrum Network 

It will come as no surprise to see ARB as one of the best Arbitrum network tokens to buy. After all, ARB is the governance token of this innovative network. This means that ARB tokens have a say in how the project is run. Any key decisions go to a vote, ensuring that Arbitrum is a truly community-run ecosystem.

Additionally, ARB tokens can also be used for staking and for paying network transaction fees. That said, ARB is also the investment token of this project. In other words, the price of ARB tokens reflects the success of the Arbitrum network. Interestingly, although Arbitrum was founded in 2018, ARB was only launched in March 2023.

According to CoinMarketCap data, ARB tokens launched at $1.18. Within a month, ARB hit highs of $1.79. This represents growth of 50%. Currently, ARB has a market capitalization of $1.4 billion. Some argue that this is modest, considering the sheer number of projects that are bridging to Arbitrum.

3. Uniswap (UNI) – Governance Token of the Arbitrum Network 

Uniswap also makes our list of the best Arbitrum tokens to buy. Launched in 2020 and built on the Ethereum framework, Uniswap is a decentralized exchange. It facilitates ERC-20 token swaps without a third party, let alone a centralized order book. Trades are conducted via an automated market maker (AMM) protocol.

In simple terms, this enables traders to swap tokens via pre-funded liquidity pools. Those funding liquidity pools on Uniswap earn interest, which is an ideal way to capitalize on idle token holdings. UNI is the governance token that also offers exposure to the growth of Uniswap.

UNI tokens trade on most tier-one exchanges, including Binance and Coinbase. The Uniswap project currently commands a market capitalization of almost $3 billion. This is a major decline from its former highs of over $22 billion. That said, this is the case for many decentralized finance projects in the current market.

4. SushiSwap (SUSHI) – Growing Decentralized Marketplace With Cross-Chain Functionality   

Just like Uniswap, SushiSwap is a decentralized exchange. It functions on the Ethereum network but also bridges to Arbitrum. SushiSwap is popular with investors seeking decentralized finance services across multiple chains. This includes Polygon, Fantom, and Binance Smart Chain (BSC). As such, traders can swap BNB (BSC) for MATIC (Polygon) without needing to go through a centralized exchange.

Another benefit of SushiSwap is that it supports multiple interest-bearing products. This includes some of the most competitive yield farming pools in the market. Some pools are currently offering APYs of over 1,000%, albeit, liquidity levels are low. SushiSwap is also popular with investors looking to create a diversified portfolio. Not only does the exchange support over 4,000 tokens but this translates into more than 34,000 pairs.

Best of all, SushiSwap does not require users to open an account. Instead, traders connect their wallets to SushiSwap and instantly have access to its portfolio of products. SUSHI is the native token of the SushiSwap ecosystem. It serves as a utility and governance token that can also be staked for passive rewards. SUSHI currently has a market capitalization of just under $220 million. This represents a significant decline from its bull market valuation of over $2.8 billion.

5. Frax Share (FXS) – Innovative Stablecoin Project Backed by a Collateral and Algorithmic Mechanism  

Frax Share is also considered one of the best Arbitrum network tokens to invest in. In a nutshell, Frax Share has developed a stablecoin framework based on two key mechanisms – collateral and algorithms. It uses a combination of each to ensure its native stablecoin, FRAX, remains pegged to the US dollar. Frax Share, or FXS, is the native governance token of this project.

Unlike FRAX, FXS is not a stablecoin. On the contrary, FXS is the project’s governance token. Like other cryptocurrencies, FXS’s value rises and falls. Currently, the project has a market capitalization of  $500 million, as per CoinMarketCap data. FXS is trading at $7, up 70% year-to-date. That said, FXS was trading at over $40 in early 2022. This means FXS can be purchased at an 80% discount.

6. Wrapped Bitcoin (WBTC) – Access Bitcoin Yield Tools on the Ethereum Blockchain 

Wrapped Bitcoin is an ERC-20 token that aims to replicate the price of Bitcoin but on the Ethereum blockchain. The project achieves this by locking up a certain amount of Bitcoin and minting an equivalent allocation on the ERC-20 standard. At first glance, those looking to gain exposure to Bitcoin might be inclined to buy actual BTC tokens. However, Wrapped Bitcoin was created to offer Bitcoin investors access to decentralized finance services.

Most of which operate on the Ethereum blockchain. As such, Wrapped Bitcoin is ideal for combining capital gains and passive income, such as staking or lending. Not only that but Wrapped Bitcoin is now bridged with Arbitrum. And hence, transactions are considerably cheaper, faster, and more scalable than the legacy Bitcoin network. Currently, Wrapped Bitcoin has a healthy market capitalization of over $4 billion.

7. The Graph (GRT) – Blockchain Indexing Services for More Efficient Transactions 

Founded in 2018, the Graph is a decentralized, open-sourced project that specializes in blockchain indexing. In simple terms, the project enables blockchains to increase efficiency levels. This includes lower fees, faster transfers, and a more scalable throughput. The Graph achieves this indexing, meaning that data is sorted uniformly. In turn, developers can search for specific transactions without needing to manually sort through millions of data points.

Developers require the project’s native token, GRT, to access the project’s services. This is because each query requires fees – payable in GRT. Since its bridge to the Arbitrum network, the Graph is more accessible than ever. Not only that, but GRT is trading at an unprecedented discount from its 2021 highs. Currently, GRT tokens are priced at just $0.11 – down 95% from their all-time high of over $2.30

8. Radiant Capital (RDNT) – Secure Competitive Yields on Arbitrum Network Tokens to Earn Passive Income 

Radiant Capital is a relatively new ecosystem that supports decentralized finance products. The platform is popular for two key reasons. First, unlike many decentralized platforms, Radiant Capital has a user-friendly interface that will appeal to beginners. Second, Radiant Capital offers some of the best APYs on Arbitrum network tokens. Moreover, Radiant Capital yields are covered by borrowers that pay interest. The platform is transparent, enabling the community to view both APYs and APRs.

For example, ARB tokens deposited on Radiant Capital will attract an APY of 5.5%. Those borrowing ARB will pay an APR of 17%. The difference between the APY and APR is considerable, protecting the platform from a large number of defaults. Other Arbitrum network tokens offering competitive yields include WBTC, USDT, DAI, and USDC. Investors can gain exposure to Radiant Capital via its governance token, RDNT. Currently, RDNT has a market capitalization of just $90 million.

9. Chainlink (LINK) – Providing a Pivotal Bridge Between Smart Contracts and Real-World Data

The best Arbitrum network tokens discussed so far each have a common denominator – they all utilize smart contracts. However, while smart contracts facilitate decentralization, they struggle to connect with the real world. This is where Chainlink comes in. Put simply, Chainlink is behind ‘oracle’ technology that bridges the gap between real-world information and smart contracts. This could be anything from verifying election results or a sporting event.

Either way, Chainlink enables smart contract networks to take their ecosystems to the Web 3.0 era. Crucially, Chainlink is fully compatible with Arbitrum, ensuring smooth and scalable transactions. This is especially important considering the amount of data that Chainlink oracles need access to. Chainlink’s native token, LINK, is the best way to gain exposure to this project. Currently, LINk has a market capitalization of almost $3.5 billion. This is down over 80% from its bear market high of $21 billion.

10. BarnBridge (BOND) – Revolutionizing Decentralized Finance Through Risk Tranches 

While the decentralized finance marketplace is becoming oversaturated, BarnBridge offers a unique value proposition. Its primary goal is to simplify the risk-assessment process, ensuring that investors only gain exposure to products that align with their financial goals. It achieves this goal through clear and transparent risk tranches. Each tranche covers specific decentralized finance products, as per the investor’s risk tolerance. For example, those with a low appetite for risk may see their BarnBridge portfolio filled with large-cap stablecoins.

While those with a high-risk tolerance might be partnered with emerging cryptocurrencies with a micro market capitalization. Either way, the project’s native token, BOND, fuels its decentralized ecosystem. BOND was launched in 2020 and commands a modest valuation of just over $30 million.  This is a decline of almost 80% from its mid-2022 market capitalization of over $150 million.

What is Arbitrum Network?

Founded in 2018, Arbitrum is a layer 2 solution for the Ethereum blockchain. To set the scene, Ethereum remains a sluggish blockchain network, especially regarding fees and scalability. This is the case even though Ethereum has completed its proof-of-stake merge.

For example, GAS fees on ERC-20 token transfers are currently averaging $10. This means that in its current form, Ethereum is not fit for purpose. After all, there are thousands of ERC-20 tokens built on the Ethereum blockchain, meaning that many ecosystems are currently operating inefficiently.

This is where Arbitrum comes in. In a nutshell, Arbitrum enables Ethereum-based projects to increase their efficiency levels across three core pillars. This includes speed, fees, and scalability. The latter refers to the number of transactions a blockchain network can facilitate each second. Currently, Ethereum is at maximum capacity at just 30 transactions per second.

In contrast, the Arbitrum network can handle up to 40,000 transactions per second. In addition, fees on the Arbitrum network are super-competitive, often in the cents. Crucially, more than 200 cryptocurrency projects have since bridged to Arbitrum. While most remain on the Ethereum network, this enables ERC-20 tokens to operate efficiently.

What Makes Arbitrum Different from Other Blockchains?

Arbitrum has built its own proprietary blockchain, meaning that tokens can be built directly on its network. However, the vast majority of Arbitrum network tokens operate on the Ethereum blockchain. This is because Ethereum is viewed as the gold standard in the smart contract ecosystem.

That said, Arbitrum enables Ethereum ecosystems to operate in a much more efficient manner. As noted above, this includes super-low fees, fast settlement times, and scaling capabilities of up to 40,000 transactions per second. As such, ERC-20 tokens can remain on the Ethereum standard but operate via an Arbitrum bridge for complete efficiency.

Additionally, Arbitrum has cross-chain functionality. This means that users can access decentralized finance services across multiple networks. Another crucial component of Arbitrum is that it supports smart contracts. Arbitrum stakeholders also have a say in how the project is run. This is because those holding its native governance token, ARB, can vote on key proposals.

Why Invest in Arbitrum Network Coins?

Arbitrum network tokens, while usually hosted on the Ethereum blockchain, offer many investment opportunities. After all, these ecosystem tokens have been bridged to Arbitrum to operate more efficiently.

• Take AiDoge as a prime example, which is one of the most promising cryptocurrencies.
• This newly launched ERC-20 project is developing an artificial intelligence tool that creates memes instantly.
• Users simply need to enter a prompt and the underlying smart contract will generate the meme.
• However, each new meme requires an individual transaction on the blockchain.
• While this would be problematic on the Ethereum network, this isn’t the case with AiDoge’s Arbitrum bridge.
• On the contrary, the Arbitrum bridge means that AiDoge can generate thousands of transactions per second.
• What’s more, each meme will not require high GAS fees. Instead, Arbitrum fees usually cost a fraction of a dollar.

This is also the case for many of the other best Arbitrum network crypto projects discussed today. Whether it’s Uniswap, SushiSwap, or Frax Share – these ecosystems have high throughput demands. This means that investing in projects that have bridged with Arbitrum could be a smart move.

That said, just because a project sits within the Arbitrum ecosystem, this doesn’t mean it will be successful. Investors should also consider the project’s unique selling points, the utility of its token, and how experienced the core team is.

How to Find Good ARB Tokens to Invest in

In this section, we explore how to find the best ARB coins to buy in 2024.

CoinMarketCap

The first step is to visit CoinMarketCap to assess which tokens are currently on the Arbitrum network. As noted earlier, there are more than 200 tokens that have already bridged to Arbitrum, so there are plenty of options to choose from.

Create a shortlist of potential Arbitrum projects to invest in, considering factors like market capitalization, token supply, and recent price history.

Read the Whitepaper

After creating a shortlist and considering key pricing metrics, check out the projects’ whitepapers. This highlights the goals of the project, in terms of its product, target market, and token use cases.

The whitepaper should also discuss the core team behind the project, its roadmap objectives, and the tokenomics. The latter refers to the total number of tokens being created and how they will be used in the project’s ecosystem.

Utility

The utility of a token is also important when assessing the best Arbitrum network coins. For example, AiDoge’s native token, $AI, has a specific use case. This is because $AI tokens are required to purchase credits. And credits are needed to create new memes on the AiDoge dashboard. $AI tokens can also be staked, which is another core utility.

Similarly, UNI tokens have utility within the Uniswap ecosystem. Those holding UNI will have a say in how this growing decentralized exchange operates. The more UNI held, the greater the voting power.

In another example, GRT, the native token of the Graph, also has a core utility. GRT tokens are required should developers wish to index or query blockchain data. Without GRT, the Graph’s services cannot be utilized.

At the other end of the spectrum, some Arbitrum network tokens do not have any utility at all. In light of this, there is no identifiable reason for the project to have bridged to Arbitrum. After all, if the token doesn’t have utility, it will likely not require scalable transactions.

Conclusion

In summary, tokens bridging with the Arbitrum network operate in a fully-functional and efficient ecosystem. Not only in terms of low fees and fast transfers but scalable transactions too.

Overall, one of the best Arbitrum network tokens to buy today is AiDoge.

AiDoge is developing an innovative tool that can generate memes from simple text prompts. Backed by artificial intelligence and the blockchain, users need to buy $AI tokens to create memes.

AiDoge has already raised over $3.5 million via its $AI token presale. Investors buying $AI tokens today can still secure a major discount before its first exchange listing.

FAQs