Token

Arbitrum

Reported by Cointelegraph, Arbitrum is set to unlock $2.32 billion worth of vested Arbitrum (ARB) tokens on March 16.
Data from digital asset tracker Token Unlocks show that Arbitrum will <a rel="noopener noreferrer nofollow" target="_blank" href="https://token.unlocks.app/arbitrum">release</a> around 1.1 billion in locked ARB tokens. The amount is around 76% of the circulating supply of the token and is worth $2.32 billion at the time of writing.
Arbitrum will unlock 673.5 million tokens (around $1.41 billion at current prices) for its team and advisers. Arbitrum will release 438.25 million tokens worth around $915 million for its investors. Token Unlocks also highlighted that this will be a “Cliff Unlock,” where no tokens are released initially until a “cliff,” which is the unlock date. A lump sum of tokens will be released into the market on the specified release day.
With the massive amount of tokens scheduled to be unlocked, crypto community members anticipate changes in the prices for the ARB tokens. One community member <a rel="noopener noreferrer nofollow" target="_blank" href="https://www.reddit.com/r/CryptoCurrency/comments/1bbply5/comment/kuaykjy/?utm_source=share&amp;utm_medium=web3x&amp;utm_name=web3xcss&amp;utm_term=1&amp;utm_content=share_button">believes</a> many people will be taking short positions against the token on March 16, while another trader <a rel="noopener noreferrer nofollow" target="_blank" href="https://www.reddit.com/r/CryptoCurrency/comments/1bbply5/comment/kucdui3/?utm_source=share&amp;utm_medium=web3x&amp;utm_name=web3xcss&amp;utm_term=1&amp;utm_content=share_button">said</a> they had already sold their tokens because of the upcoming unlock.

Arbitrum to Unlock $2.32B Worth of $ARB Token, around 76% of Current Circulating Supply

TokenInsight

Other articles published on Mar 12, 2024

Why is Bitcoin going up? Ripple CEO says this after CTO’s XRP comments…

What Is MEMEMINT? The Next Big Thing in Meme Culture and Finance

MetaMask and Mastercard Unite to Launch On-Chain Payment Card.

XRP Price Prediction: Can Bullish Momentum Push Beyond $1

LG Electronics Invests $60m in Bear Robotics for AI-Driven Service Robots

ElevenLabs’ Sound Revolution: How AI is Reshaping the World of Audio Content!

Join our free newsletter for daily crypto updates!