The crypto community is gearing up for the upcoming release of 92.65 million $ARB tokens on November 16, 2024.
Valued at approximately $48.5 million, these tokens will be distributed to Arbitrum’s team, advisors, and investors, marking a significant event for the project.
This release follows a much larger distribution earlier this year, when 1.1 billion $ARB tokens (worth $2.32 billion) were unlocked, leading to a sharp price drop from $2.10 to as low as $0.50. With this history in mind, many are watching closely as the new supply hit the market, given the potential for further price volatility.
🚨 Upcoming $ARB Supply Release: Be Prepared 🚨
In just 10 days, Arbitrum is set to release 92.65 million $ARB tokens, valued around $48.5 million
• Release Date : Nov 16, 2024
• Distribution : Team, Advisors, and InvestorsEarlier this year, we saw a significant release of… pic.twitter.com/E5fO7r22C0
— Tokenomist (prev. TokenUnlocks) ➡️ Devcon 🇹🇭 (@Tokenomist_ai) November 6, 2024
$ARB Token Price Action
As of now, $ARB is trading at $0.56, showing a modest 9% increase in the past 24 hours. However, the market remains cautious ahead of the scheduled release, with some fearing another downward adjustment similar to what occurred earlier this year.
Investors are advised to prepare for the event by closely monitoring the release on November 16. The distribution could bring additional sell pressure, impacting the price of $ARB in the short term. However, depending on how the market absorbs the supply, there may also be opportunities for long-term growth if the project’s fundamentals continue to strengthen.
With the looming release, Arbitrum’s upcoming token distribution will be a pivotal moment for $ARB holders and potential investors. As always, timing and market sentiment will be key factors to watch.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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