The Arbitrum bridge now holds 642k ETH: https://etherscan.io/accounts
477k of that ETH is farming NYAN: https://arbiscan.io/accounts
NYAN is the flagship token of Arbitrum. Similar to CAKE on BSC. The NYAN devs are rumored to be building an Arbitrum-optimized AMM.
Coinbase might enable Arbitrum deposits & withdrawals eventually: https://blog.coinbase.com/coinbase-protocol-team-advances-crypto-community-aa9b3748bac5
This will flood Arbitrum with new users and liquidity. NYAN is better-positioned to benefit from this than any other token.
If you thought the rise of SHIB on Uniswap was impressive....imagine what NYAN can do. Nobody will be priced-out by $100 gas fees this time.
NYAN will experience a halvening 5 hours from now when the ETH staking pool ends. The daily emissions will drop from about 2m to 1m NYAN. All else being equal, this will be incredibly bullish for NYAN.
Thoughts on where that 477k ETH will go after the pool ends? Will most of it be bridged back to Layer1 Ethereum? It will be interesting to watch.
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