MAJOR $ARB DUMP INCOMING?! WATCH OUT FOR MARCH 16TH…
- As highlighted by @Token_Unlocks, #Ethereum layer-2, Arbitrum, will release approximately 1.1 billion $ARB tokens on March 16th, in just 5 days time.
- Said ARB tokens equate to a value of around $2.3 billion at time of writing, according to @CoinMarketCap.
- According to an article from Cointelegraph, this amounts to a full 76% of @Arbitrum’s current circulating supply.
- It is worth noting that, of the 1.1 billion $ARB, some $1.41 billion worth of tokens will be released to the project’s team.
- In addition, tokens amounting to $915 million will be released to the project’s investors.
- What is especially concerning about the aforementioned unlock is that it comes in the form of a ‘cliff’, meaning that a lump sum of $ARB tokens are released into supply all in one hit.
- This has led some investors to speculate on a major downturn in the token’s price on March 16th.
- Others, however, believe that the unlock is already priced in and will therefore have little impact on the asset’s price once the unlock actually takes place.