The Layer-2 blockchain network Arbitrum is scheduled to release vested Arbitrum (ARB) tokens valued at $2.32 billion on March 16. With the release date rapidly approaching, speculations on the value of ARB tokens begin to spur the market.
Arbitrum plans to unlock approximately 1.1 billion locked ARB tokens, according to data from the digital asset tracker Token Unlocks. At the time of writing, the amount is valued at $2.32 billion, or around 76% of the token’s circulating quantity.
For its advisors and crew, Arbitrum will unlock 673.5 million tokens, or about $1.41 billion at the moment. Arbitrum is going to provide its investors access to 438.25 million tokens, which is around $915 million.
The “Cliff Unlock” feature, which prevents token releases before the unlock date, was also emphasized by Token Unlocks. On the designated release day, a fixed quantity of tokens will be introduced into the market.
Members of the cryptocurrency community expect volatality in the price of ARB tokens due to the enormous quantity of tokens that are expected to be released.
While some traders claimed to have already sold their tokens in anticipation of the impending unlock, another community member predicted that many individuals would be placing short positions against the token on March 16.
Crypto influencer JJcycles offered an alternative viewpoint on X. The trader contrasted the ARB unlock with a Solana token unlock from the prior cycle. The trader claimed that rather than falling as predicted, the price of Solana’s token increased once the vested tokens were distributed.
This week, several additional projects outside Arbitrum are anticipated to release tokens. Aptos plans to unlock around 24 million of its $329 million worth of Aptos tokens on March 13.
This makes up about 6.73% of the supply that is currently in circulation for the project. These tokens were distributed by the project to its investors, community, foundation, and core contributors.
Also Read: Arbitrum DAO Withdraws $1 Million Tornado Cash Proposal
