Arbitrum Unleashes $2.32B in Vested Tokens on March 16

Arbitrum, a layer-2 blockchain network, is preparing to release $2.32 billion worth of vested Arbitrum (ARB) tokens on March 16th. Token Unlocks, a digital asset tracker, reveals that approximately 1.1 billion locked ARB tokens will be unlocked. This amounts to roughly 76% of the token’s circulating supply and holds a value of $2.32 billion at the current time. The team and advisors of Arbitrum are set to receive 673.5 million tokens, valued at around $1.41 billion. 438.25 million tokens, worth approximately $915 million, will be released to the investors of Arbitrum. This release will follow a “Cliff Unlock” approach, where no tokens are initially released until the specified unlock date, after which a lump sum will be available in the market. The substantial number of tokens being unlocked has caused speculation amongst the crypto community regarding potential changes in the prices of ARB tokens. Some members anticipate taking short positions against the token on March 16th, while others have already sold their tokens due to the impending unlock. Crypto influencer JJcycles shared a different viewpoint, comparing the ARB unlock to a token unlock by Solana in the previous cycle. The influencer noted that the SOL token price experienced a surge after the release of vested tokens, contrary to the expected price drop. In addition to Arbitrum, several other projects are also expected to unlock tokens this week. Aptos (APT) will unlock around 24 million tokens on March 13th, which is valued at approximately $329 million and accounts for about 6.73% of the project’s circulating supply. The tokens have been allocated for the project’s foundation, community, core contributors, and investors. Projects such as ApeCoin, Flow, CyberConnect, Moonbeam, and Euler will also unlock vested tokens, totaling around $53 million in digital assets. Consequently, the total amount of tokens to be unlocked this week comes to approximately $2.7 billion.