Arbitrum, a layer-2 blockchain network, is preparing to release $2.32 billion worth of vested Arbitrum (ARB) tokens on March 16. According to data from Token Unlocks, approximately 1.1 billion locked ARB tokens will be unlocked, accounting for about 76% of the token’s circulating supply.
Of the unlocked tokens, 673.5 million, valued at around $1.41 billion, will be allocated to the Arbitrum team and advisers. The remaining 438.25 million tokens, currently worth about $915 million, will be released to investors. Token Unlocks noted that this release will follow a “Cliff Unlock” structure, where no tokens are initially released until the specified unlock date, at which point a lump sum will enter the market.
With such a significant number of tokens becoming available, members of the crypto community are anticipating potential price changes for ARB tokens. Some community members predict a rise in short positions against the token on March 16, while others have already sold their tokens due to the upcoming unlock.
However, crypto influencer JJcycles offered a different perspective. JJcycles compared the ARB unlock to a previous token unlock by Solana (SOL) and noted that instead of a price drop, the SOL token price actually surged after the vested tokens were released.
In addition to Arbitrum, several other projects are also expected to release tokens this week. Aptos (APT) will unlock around 24 million tokens worth approximately $329 million on March 13, accounting for about 6.73% of the project’s circulating supply. Other projects such as ApeCoin (APE), Flow (FLOW), CyberConnect, Moonbeam, and Euler will also release vested tokens, totaling around $53 million in digital assets. In total, approximately $2.7 billion worth of tokens will be unlocked this week.
Magazine:
Zhu Su pumps Milady to $19K, Alchemy Pay crypto bank, HK tokens: Asia Express