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👀 Arbitrum's $2B Token Release in March: Is an ARB Price Drop Imminent?
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Over $2 billion worth of ARB tokens are expected to be released on March 16, 2024, impacting 87% of the circulating supply.
The Token Unlocks report suggests that tokens typically increase by 34% after unlocking, due to concerns over market volatility.
The crypto ecosystem is gearing up for a big event this month as Ethereum's layer 2 scaling protocol, Arbitrum, gears up for a monumental token release. On March 16, 2024, over $2 billion in ARB tokens are expected to be released, marking a pivotal moment for the protocol and its stakeholders.
According to Token Unlocks, this event will see over 1.1 billion ARB tokens, constituting approximately 87% of the circulating supply, distributed primarily to the project team, advisors and investors. The release of a billion dollars from Arbitrum
This unlock is not only significant in terms of volume, but also in terms of potential market impact, making it the most notable token unlock event this month.
Just recently, dYdX revealed approximately $111 million in tokens, with Aptos scheduled to release $234 million in tokens on March 13 and Immutable planning to release approximately $105 million in tokens on March 22.
In a move that highlights the growing adoption and integration of layer 2 solutions, Robinhood recently integrated Arbitrum into its Web3 wallet.
