Coinspeaker
Blockchain Layer 2 Network Arbitrum Set to Expand as $2.32B Token Unlock Nears
To all that it may interest, anticipation for the unlock of $2.32 billion worth of vested Arbitrum (ARB) tokens on March 16 is in top gear. Coinspeaker reported the unlock on Tuesday, which is expected to bring about changes in the price of ARB tokens. However, there is even more expectation that it will also cause unprecedented growth for the gaming ecosystem on Arbitrum.
According to data from digital asset tracker Token Unlocks, Arbitrum is going to release nearly 1.1 billion in locked ARB tokens. That represents around 76% of the circulating supply of the token, and by current prices would be worth $2.32 billion.
Price Movements
Traders remain skeptical about what direction the token unlock would cause ARB prices to swing in. If Solana’s similar token unlock during the previous cycle is anything to go by, then ARB prices may also see good gains shortly after March 16.
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