Arbitrum is gearing up to release over $2 billion worth of tokens this month, as revealed by Token Unlocks data on March 16, 2024.
This forthcoming token unlock will distribute more than 1.1 billion ARB tokens, constituting roughly 87% of the circulating supply, among the project’s team, advisors, and investors. Thus far, approximately 1.5 billion tokens have been distributed, representing close to 16% of the total supply.
This event is notable as the most significant token unlock scheduled for the month, alongside other projects like dYdX, Aptos, and Immutable, which are also set for major token releases.
Today, dYdX has released about $111 million worth of tokens. Aptos is expected to unveil around $290 million in tokens on March 13, while Immutable will unlock approximately $109 million in tokens on March 22. This impending release is poised to double the current circulating supply of assets. Robinhood has recently integrated Arbitrum into its platform to facilitate quicker and more cost-effective transactions for users, leveraging its Layer 2 technology.
We’re very excited to announce a long-term collaboration with @RobinhoodApp that will encompass features dedicated to lowering the barrier for onboarding new users into Web3 through #RobinhoodWallet 💙🧡🪶https://t.co/m4s1cjWbKt
— Arbitrum (💙,🧡) (@arbitrum) February 29, 2024
As per CoinGecko data, ARB is presently trading at approximately $2.02, marking a nearly 9% increase over the past 7 days. The token holds a market capitalization of around $2.6 billion.
