Arbitrum’s token ARB is having a rough Thursday. The price is down nearly 3% over the past 24 hours, now hovering around $0.4080, just hours before a major unlock event set for 1 PM UTC on May 16.
Roughly 92.65 million ARB tokens—worth around $37.8 million—are about to be released into circulation. That’s nearly 2% of the total supply suddenly hitting the market, and traders aren’t ignoring it. These events often bring volatility, and this dip might be the market pricing that in early.
Even with the price dipping, ARB is seeing a lot of action. Trading activity has picked up noticeably, with volume surging over 32% in the past day to reach $312.7 million. While some traders appear to be preparing for a potential sell-off, others seem to be eyeing a quick bounce.
At the moment, roughly 4.13 billion ARB tokens are already in circulation, which makes up around 41% of the total supply.
At current prices, that chunk alone is worth roughly $1.69 billion. Another 2.47 billion tokens are locked (about 24.6%), while 3.4 billion more (34%) are listed under “TBD locked”—essentially tokens still waiting for their release schedule.
ARB sits at the 50th spot on the crypto rankings, with more than 357,000 holders. This unlock is part of its planned token release schedule, but it’s clearly shaking things up in the short term. Whether the market absorbs the new supply smoothly or reacts with more downside will become clearer once the tokens actually hit wallets.
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