[Next week, a huge token unlock will happen for Arbitrum, equivalent to 76% of the supply...]
Arbitrum will host a compelling token unlock event on March 16, 2024 at 9:00 pm (UTC). The event will unlock 1.11 billion ARB tokens, representing a staggering 76.62% of the circulating supply. At current exchange rates, the tokens to be unlocked are worth approximately $2.38 billion, and Arbitrum’s total market cap is approximately $2.7 billion.
This major token unlocking event will come on the heels of a key Ethereum update, the Dencun upgrade, which is expected to roll out on the Ethereum network on March 13. This upgrade will significantly reduce transaction fees for Layer 2 such as Arbitrum and improve network performance.
Of the ARB tokens to be unlocked, approximately $937 million will be allocated to specific early investors, while approximately $1.44 billion will be allocated to project developers and advisors.
