Arbitrum Unlock News: Brace for Potential Market Fluctuations with Forthcoming Token Release
Arbitrum (ARB), a prominent player in the cryptocurrency world, is gearing up for a substantial token release slated for April 16th. This event is expected to bring with it high market volatility, a common phenomenon associated with such occurrences. Data from TokenUnlock indicates that close to 92.65 million Arbitrum tokens, which make up about 3.49% of its circulating supply, are scheduled for release. A staggering $65.10 million worth of these tokens are allocated for the team, future team members, and advisors. The remaining $42.36 million worth of tokens will be distributed amongst investors. Historically, token unlock events have precipitated significant sell-offs, consequentially causing a drop in price. Arbitrum’s price might also witness a similar fall post the token unlock. It is important to remember that this is not an isolated incident, as Arbitrum experienced a noteworthy price decline after its previous token unlock event on March 16th. However, the impending token release is not as large as the previous one, indicating that the potential market impact might not be as drastic. Nevertheless, in light of the Arbitrum unlock news, there is a lingering risk of the token price falling below the $1 support level for the first time in a substantial period.
Not financial advice. Always be safe and secure when dealing with cryptocurrency. Never send anyone your private key. Always Do Your Own Research..DYOR..DYOR..DYOR!
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