92.65 million ARBs are scheduled to enter circulation on July 16. The release is worth approximately $8.53 million and accounts for 1.65% of the token’s currently issued supply.
Unlocked tokens will be split between two main groups. Approximately 56.13 million ARB, Decision team, future team members and mentors. The remaining 36.52 million ARB will be allocated to investors.
It is worth noting here that token unlocks do not always lead to immediate sales. But new supply could impact prices in the short term, depending on how buyers manage their assets.
AMBCrypto was previously reported 10% of fees collected from Robinhood Chain and other Arbitrum Layer-2 networks will be directed to the Arbitrum ecosystem. This development is different from others unlock tokenbut the growing source of ecosystem value may also be affecting the ARB’s long-term outlook.
How is ARB priced?
Despite the impending event, ARB has shown a rebound in the charts in recent sessions.
In fact, the altcoin rose back above $0.09 after dropping to the $0.07 range. Perhaps there was interest in purchasing before it was unlocked.
The RSI was around 63 at press time, meaning buyers had the upper hand without moving into overbought territory. The MACD also turned positive, which supported the rise.
Unlocking can test this recovery. The future depends on whether purchasing demand is strong enough to absorb additional tokens.
Is there hope for derivatives traders?
Eventually ARB’s Total Open Interest increased to approximately $60.9 million. It seems that many more traders have active positions in the market.
At the same time, the average funding rate was positive at 0.0083%. Long positions appear to outweigh short positions, and investors are largely anticipating further upside on the charts.
What is interesting is that this long positioning can also increase volatility if the market moves in the opposite direction.
Final Summary
- Arbitrum will unlock 92.65 million ARB on July 16.
- At the time of writing, ARB’s price had risen above $0.09 as investors remained optimistic.
