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

Press Releases Crypto News AMB-Crypto Arbitrum: What you need to know about the approaching token unlock

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.

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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 Gainsnetwork.io.

Impressively, they’ve fulfilled over 300,000 on-chain Oracle requests on Arbitrum. Matrixed.Li

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Author: Himalay Patel

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