Whales Dump $58 Million in Arbitrum Tokens After Unlock

Massive Token Unlock

Arbitrum, an Ethereum scaling solution, unlocked 1.11 billion ARB tokens on March 16th. This represented 42% of the circulating supply.

Whale Activity

According to Lookonchain, 11 whales deposited 34 million ARB tokens into crypto exchanges after the unlock.

Token Distribution

673.5 million ARB tokens ($1.37 billion) were unlocked for the Arbitrum team, future team, and advisors. 438.25 million ARB tokens ($894 million) were unlocked for investors.

Market Impact

ARB is currently trading at $1.56, down 7.5% in the past 24 hours and 25% in the past week.

Arbitrum’s Ranking

Despite the price decline, Arbitrum remains the fifth-ranked chain in terms of total value locked (TVL), with $3.276 billion. TVL measures the capital deposited in a protocol’s smart contracts.