Arbitrum to Unlock Large Amount of Tokens Soon

Arbitrum to Unlock Large Amount of Tokens Soon

The Layer 2 developed by Offchain Labs - Arbitrum will unlock a very large batch of ARB tokens on March 16, 2024.
Arbitrum (ARB), one of the most prominent Ethereum Layer-2 projects, is set to host a token unlocking event on Saturday, March 16, 2024.
Specifically, 1.11 billion ARB tokens will be unlocked, accounting for 11.1% of the total supply and 76.5% of the current circulating supply. Additionally, the unlocked altcoins will have a value of $2.38 billion at the current exchange rate.
Arbitrum Unlock
The token unlocking action by Arbitrum coincides with the anticipated Dencun update scheduled for the Ethereum mainnet on March 13, 2024.
According to many experts, this upgrade event will significantly impact Layer 2 projects. Specifically, it is expected to substantially reduce transaction fees for Layer 2 projects like Arbitrum and enhance network efficiency.
Among the unlocked ARB tokens, $937 million will be distributed to investors, while $1.44 billion will be allocated to developers and advisors.
Arbitrum is a Layer 2 solution aimed at alleviating the burden on Ethereum by reducing the number of transactions on the Ethereum network and decreasing transaction fees.
This platform is designed to enable developers to easily migrate dApps from Ethereum to Arbitrum while still benefiting from Ethereum’s security features. Additionally, Arbitrum boasts transaction speeds of up to 40,000 transactions per second.
Related: Arbitrum Foundation Funds Crypto Film

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ARB/USDT Chart on TradingView as of 3:15 AM on March 11, 2024