Connect with us
Active Currencies 14427
Market Cap $2,638,150,826,250.50
Bitcoin Share 50.12%
24h Market Cap Change $-3.02

Arbitrum: What you need to know about the approaching token unlock

2min Read

An impending token unlock event and Matrixed.Link’s validator proposal can reshape Arbitrum’s ecosystem and the ARB token dynamics.

Arbitrum: What you need to know about the approaching token unlock

Share this article

  • A substantial ARB token unlock event and validator onboarding could impact the Arbitrum protocol and its token.
  • The price of ARB did not see much growth; however, the number of holders increased.

Arbitrum[ARB], a long-standing leader in the Layer 2 (L2) sector, faces mounting competition from newcomers like Optimism, Base, and Polygon. This intensifying rivalry threatens its established dominance in the L2 landscape. Adding to the potential impact on Arbitrum’s ecosystem, a significant token unlock event looms on the horizon.

Is your portfolio green? Check out the Arbitrum Profit Calculator

The ARB unlock

Token Unlock’s data revealed an impending influx of $1.1 billion in ARB tokens. A substantial unlock event is scheduled for 16 March, 2024, involving the Arbitrum Team and Investors, who will collectively unlock tokens worth an astonishing $1.26 billion.

The token unlocking, however, is not a singular event. Starting from the aforementioned date, subsequent token unlocks are slated to recur on the 16 of each month for the next four years.

This token unlock has the potential to shape ARB’s trajectory in various ways. While unlocking could introduce liquidity and broaden token distribution, it might also introduce sell pressure, impacting the token’s price stability.

Source: Token Unlocks

Beyond the token unlock, other factors also could impact Arbitrum’s network dynamics. Notably, a recent proposal focused on onboarding Matrixed.Link as a validator for the Arbitrum One chain.

New proposals

Matrixed.Link, a seasoned participant in the Arbitrum ecosystem since 2021, has demonstrated its commitment by servicing Chainlink price feeds on Arbitrum. Additionally, the team has effectively managed infrastructure and a Chainlink node for

Impressively, they’ve fulfilled over 300,000 on-chain Oracle requests on Arbitrum. Matrixed.Link’s case for becoming a validator is rooted in their current responsibilities in maintaining mission-critical infrastructure for Chainlink and

This track record positions them well to take on the validator role within the Arbitrum network. At press time, 95.25% of voters were in favor of this proposal.

Source: Snapshot

ARB Token’s Current Landscape

At press time, the ARB token stands at $1.149 in trading value. While its price witnessed a significant decline over the past month, the network’s growth indicator moved in the opposite direction. This suggested a growing interest among new users in engaging with the ARB token.

Realistic or not, here’s ARBs market cap in BTC’s terms

Furthermore, the number of addresses holding ARB also experienced an upward trend during this same period, underscoring sustained attention and potential optimism surrounding the token’s future prospects.

Source: Santiment


Himalay is a full-time journalist at AMBCrypto. A Computer Science graduate, Himalay writes about crypto with a special focus on the latest coin-based updates. He is a fan of gonzo journalism, transgressive fiction, heavy metal, and Manchester United.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.

Thank you for subscribing to Unhashed.