Arbitrum to unlock $2.32B in vested tokens on March 16

Source: Cointelegraph

Layer-2 blockchain network Arbitrum is set to unlock $2.32 billion worth of vested Arbitrum (ARB) tokens on March 16.

Data from digital asset tracker Token Unlocks show that Arbitrum will release around 1.1 billion in locked ARB tokens. The amount is around 76% of the circulating supply of the token and is worth $2.32 billion at the time of writing.

Arbitrum unlock progress and countdown to next unlock. Source: Token Unlocks

Arbitrum will unlock 673.5 million tokens (around $1.41 billion at current prices) for its team and advisers. Arbitrum will release 438.25 million tokens worth around $915 million for its investors. Token Unlocks also highlighted that this will be a “Cliff Unlock,” where no tokens are released initially until a “cliff,” which is the unlock date. A lump sum of tokens will be released into the market on the specified release day.

With the massive amount of tokens scheduled to be unlocked, crypto community members anticipate changes in the prices for the ARB tokens. One community member believes many people will be taking short positions against the token on March 16, while another trader said they had already sold their tokens because of the upcoming unlock.

Community members discussing the upcoming unlock on Reddit. Source: Reddit

On X, crypto influencer JJcycles shared a different perspective. The trader compared the ARB unlock to a token unlock by Solana during the previous cycle. The trader said Solana’s  SOL $147 token price soared after the vested tokens were released instead of the expected price drop.

Apart from Arbitrum, several other projects are expected to release tokens this week. On March 13, Aptos will unlock around 24 million of its Aptos APT $12.93 tokens worth about $329 million. This accounts for around 6.73% of the project’s current circulating supply. The project allocated these tokens for its foundation, community, core contributors and investors.

Meanwhile, projects like ApeCoin APE $2.23, Flow FLOW$1.56, CyberConnect, Moonbeam and Euler will also release vested tokens this week. The projects will unlock about $53 million in vested digital assets. This put the total amount to be unlocked this week at around $2.7 billion.