- Twitter suspends the official Arbitrum account for a short period of time.
- The suspension had a significant effect on the price of Arbitrum.
The Ethereum rollup tool Arbitrum’s Twitter account was shut down on Monday. Offchain Labs co-founder Harry Kalodner accepted the suspension but was unclear about Twitter’s justification. According to reports, it was flagged as spam by mistake while being swept up with other offending accounts.
Even though the account has been restored. Arbitrum is a layer-2 (L2) scaling option for Ethereum. It processes transactions off-chain and only conveys the results to be recorded on the Ethereum main chain. Doing so significantly lowers congestion and transaction fees on the main chain.
The suspension had a significant effect on the price of Arbitrum, which is still down around 12%. Arbitrum’s suspension comes less than a week after the much-anticipated launch of Arbitrum’s new ARB governance token.
Albeit, the total value locked in Arbitrum is increasing. This also comes shortly after the system issued its ARB token to early adopters via an airdrop.
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