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Reported by Cointelegraph, Arbitrum is set to unlock $2.32 billion worth of vested Arbitrum (ARB) tokens on March 16.
Data from digital asset tracker Token Unlocks show that Arbitrum will release around 1.1 billion in locked ARB tokens. The amount is around 76% of the circulating supply of the token and is worth $2.32 billion at the time of writing.
Arbitrum will unlock 673.5 million tokens (around $1.41 billion at current prices) for its team and advisers. Arbitrum will release 438.25 million tokens worth around $915 million for its investors. Token Unlocks also highlighted that this will be a “Cliff Unlock,” where no tokens are released initially until a “cliff,” which is the unlock date. A lump sum of tokens will be released into the market on the specified release day.
With the massive amount of tokens scheduled to be unlocked, crypto community members anticipate changes in the prices for the ARB tokens. One community member believes many people will be taking short positions against the token on March 16, while another trader said they had already sold their tokens because of the upcoming unlock.
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