Arbitrum network will release 92.65 million tokens to the market, potentially causing a 10% dip in ARB token price. Token unlocks are considered bearish catalysts as recipients are likely to cash in for quick gains.
Arbitrum network will unleash 92.65 million tokens to the market on Tuesday, worth nearly $107 million. ARB could dip 10% to $1.00 as investors, among other token recipients, are likely to cash in for quick gains. A flip of $1.73 roadblock into support would invalidate the bearish thesis. Token unlocks are considered bearish catalysts , particularly when recipients are likely to cash in for a quick profit.
89% of the circulating supply were allocated to the team, future team and advisors, and investors. The unlock saw Arbitrum price drop by over 10%. If history repeats, the Ethereum Layer 2 token could register similar losses. Arbitrum price outlook ahead of ARB unlocks event Arbitrum price attempted a recovery on Sunday after bottoming out around $0.85 on Saturday. However, the recovery proved premature as the L2 token now suffers robust resistance from the north.
Arbitrum Network Token Unlocks ARB Token Bearish Catalysts Cryptocurrency
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