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Market News Arbitrum will release $1.2 billion ARB in March 2024: Token grants access

Arbitrum will release $1.2 billion ARB in March 2024: Token grants access

In March 2024, Arbitrum will release $1.2 billion in ARB: Token enables

TOP1 Markets Analyst
2023-08-16
12168

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Layer 2 scaling solution for Ethereum According to data provider Token Unlocks, Arbitrum will issue over $1 billion in ARB tokens in March of next year, setting off a four-year period of progressive unfreezing of its original digital asset.


The system, which aims to provide scalable and low-cost smart contract capabilities, will "cliff unlock" 1.11 billion ARB tokens worth $1.24 billion at the current market pricing of $1.12. The amount to be distributed represents 87% of the token's current circulating supply of 1.275 billion. Over 5 billion ARB tokens were still frozen at of press time.


Unlocks are the staggered releases of cryptocurrencies that were previously frozen to prevent early investors or project team members from selling in huge numbers. The Cliff unlock technique provides for the immediate unfreezing of a particular amount of tokens after a specified duration, followed by a linear schedule of unfreezing.


Arbitrum will continue to unfreeze a set number of tokens every four weeks for the next four years, according to a tweet from Token Unlocks.


Unlocks increase liquidity and are regarded as negative drivers for bitcoin prices. According to a study conducted by the analytics firm The Tie, unlocks comprising more than 100% of the average daily trading volume tend to outweigh the token's price.


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According to data source TradingView, ARB was trading at $1.12 as of this writing, down 4% for the month.


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