- Arbitrum, a layer-2 blockchain network, will unlock $2.32 billion worth of vested Arbitrum (ARB) tokens on March 16, representing 76% of the circulating supply.
- The community anticipates volatility in ARB prices, with some already selling holdings preemptively while others compare it to a Solana unlock where prices increased.
- Apart from Arbitrum, other notable unlocks this week include Aptos unlocking $32.9 million worth of tokens and projects like ApeCoin, Flow, and CyberConnect releasing $53 million worth of vested tokens.
Arbitrum, a layer-2 blockchain network, is set to unlock $2.32 billion worth of vested Arbitrum (ARB) tokens on March 16. This will be one of the largest token unlocks of the year so far.
Details of the Unlock
According to data from digital asset tracker Token Unlocks, Arbitrum will release around 1.1 billion locked ARB tokens. This amount represents around 76% of the circulating supply and is worth around $2.32 billion at current prices.
Token Unlocks highlighted that this will be a Cliff Unlock, where no tokens are released initially until the unlock date. On March 16, a lump sum of tokens will be released into the market.
Market Sentiment Around the Unlock
With such a large amount of tokens set to enter the market, many crypto community members anticipate volatility in ARB prices.
Some expect people will take short positions against ARB, while others have already sold their holdings preemptively. However, others compare it to a previous Solana unlock, which saw prices increase despite expectations.
Other Notable Unlocks This Week
Apart from Arbitrum, several other projects have notable unlocks this week:
- Aptos will unlock around 2.4 million APT tokens worth $32.9 million on March 13, accounting for 6.73% of its circulating supply.
- Projects like ApeCoin, Flow, CyberConnect, Moonbeam, and Euler will also release vested tokens this week, totaling around $53 million.
The total value of tokens set to be unlocked across projects this week is around $2.7 billion. It will be interesting to see how the markets react as these cliffs approach.
