Token

Future

Arbitrum

April

<p>Arbitrum, a prominent layer-2 blockchain project, recently unlocked 1.1 billion ARB tokens, worth $2.32 billion, for its team, advisors, and investors. Following the recent token unlock by <a href="https://www.cryptopolitan.com/optimism-surround-arbitrums-massive-unlock/" rel="noopener noreferrer nofollow">Arbitrum</a>, whales initiate a significant movement of digital assets to exchanges, impacting market dynamics.</p>
<h2 class="wp-block-heading" id="arbitrum-whales-trigger-market-turmoil">Arbitrum whales trigger market turmoil</h2>
<p>Blockchain analysis firm Lookonchain has<a href="https://twitter.com/lookonchain/status/1769586523639562691" rel="noopener noreferrer nofollow" target="_blank"> observed </a>substantial activity among whales, with at least 11 major holders depositing a collective 34 million tokens valued at nearly $58 million into exchanges. This development has stirred considerable attention within the cryptocurrency community.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">After the massive unlocking of <a href="https://twitter.com/search?q=%24ARB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$ARB</a>, 11 whales deposited a total of 34M <a href="https://twitter.com/search?q=%24ARB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$ARB</a>($58M) into the exchanges.<a href="https://t.co/Lcr5S3wE3t" rel="noopener noreferrer nofollow" target="_blank">https://t.co/Lcr5S3wE3t</a> <a href="https://t.co/jTBl5f3kQ5" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/jTBl5f3kQ5</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1769586523639562691?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">March 18, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>The ‘Cliff Unlock’ approach adopted by Arbitrum, releasing tokens all at once, has led to speculation regarding short positions against the token. Concerns over potential downward pressure on prices materialized as ARB token prices experienced notable declines in the lead-up to and aftermath of the unlock.&nbsp;</p>
<p>From a high of $2.22, the token plummeted to $1.84 on the day of the unlock, further dropping to $1.64 on March 17, marking a seven-day low. Presently, the token is trading around $1.70, reflecting a substantial decrease from its previous highs.</p>
<h2 class="wp-block-heading" id="future-uncertainties-and-token-release-schedule">Future uncertainties and token release schedule</h2>
<p>As the market adjusts to the unlocked tokens, stakeholders brace for further challenges. Token Unlocks data reveals that Arbitrum is scheduled to release an additional 92.65 million tokens on April 16.&nbsp;</p>
<p>These tokens, valued at approximately $157 million based on current market prices, will be distributed simultaneously to the project’s team, advisors, and investors. The impending release adds to the prevailing uncertainties surrounding ARB token dynamics.</p>
<p>The movement of ARB tokens by whales to cryptocurrency exchanges following Arbitrum’s recent unlock event underscores the immediate impact of token releases on market dynamics. With significant volumes of tokens in play and additional releases on the horizon, stakeholders must navigate evolving market conditions with caution. As the cryptocurrency community continues to monitor developments, the implications of these movements on the broader ecosystem remain a subject of keen interest and analysis.</p>

$58M ARB Token Transfer to Exchanges Post- Arbitrum Unlock

Table of Contents

Cryptopolitan_News

Other articles published on Mar 18, 2024

Two Giant Companies Apple and Google are Preparing to Collaborate in the Field of Artificial Inte...

Next Cryptocurrency To Explode Monday, March 18 – Stride, FLUX, Gala

NEOPIN (NPT) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

Will Bitcoin Surge Above $70K Again Anytime Soon?

Solana Price: SOL Rises Above $200, Could $500 Be Next Stop

Omniwars Launches a Gaming Universe, Empowering Players with Fantasy Hero Adventures.

Join our free newsletter for daily crypto updates!