Sell-off alert: L2 cryptocurrency unlocks $100 million in tokens
Arbitrum (ARB), one of the most popular second layers for Ethereum (ETH), threatens a significant sell-off this week. The protocol will unlock over $100 million in tokens in the next few hours of press time, on April 16. Notably, Arbitrum’s contracts will unlock 92.65 million ARB for the team behind the project and the early investors. The former, composed of “Team, Future Team, and Advisors” will receive 56.13 million tokens worth $63.98 million. Meanwhile, “Investors” will have 36.52 million ARB unlocked, at a $41.63 valuation. Picks for you Profit and planet: Best climate change investments 49 mins ago US economist warns Bitcoin is in ‘stealth bear market’ 53 mins ago 2 meme coins to reach $25 billion market cap in 2024 19 hours ago VALR crypto exchange receives regulatory license as a CASP in South Africa 21 hours ago Overall, this is a relevant amount of ARB entering the circulating supply for a likely sell-of...