Arbitrum (ARB) Market Cap Hits ATH Despite Correction, Is a Rally Looming?
- ARB price dropped 24% in the last week, hitting $1.50 amid a major token unlock event.
- Arbitrum’s market cap soars to $3.99 billion despite ARB’s price decline.
- Whale activity spikes, moving 58 million ARB to exchanges post-unlock.
The Arbitrum (ARB) price has been in a downturn, with the price oscillating between an intra-day low and high of $1.47 and $1.74, respectively, in the last 24 hours. This bearish trend marks a 9% correction in the last day and 24% over the previous seven days, with the current trading price standing at $1.50.
This price shift comes in the wake of a major event for Ethereum’s Layer-2 scaling solution, which executed a token unlock on March 16. Despite this, the market capitalization of Arbitrum has hit a new all-time high (ATH).
Arbitrum’s Token Unlock
Arbitrum initiated a critical phase in its ecosystem development with a “Cliff Unlock” event, releasing 1.1 billion ARB tokens into circulation. This significant influx of tokens was distributed among the project’s team members, advisors, and investors, raising concerns about potential market impacts.
The distribution was 673.…
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Arbitrum (ARB) Market Cap Hits ATH Despite Correction, Is a Rally Looming?
- ARB price dropped 24% in the last week, hitting $1.50 amid a major token unlock event.
- Arbitrum’s market cap soars to $3.99 billion despite ARB’s price decline.
- Whale activity spikes, moving 58 million ARB to exchanges post-unlock.
The Arbitrum (ARB) price has been in a downturn, with the price oscillating between an intra-day low and high of $1.47 and $1.74, respectively, in the last 24 hours. This bearish trend marks a 9% correction in the last day and 24% over the previous seven days, with the current trading price standing at $1.50.
This price shift comes in the wake of a major event for Ethereum’s Layer-2 scaling solution, which executed a token unlock on March 16. Despite this, the market capitalization of Arbitrum has hit a new all-time high (ATH).
Arbitrum’s Token Unlock
Arbitrum initiated a critical phase in its ecosystem development with a “Cliff Unlock” event, releasing 1.1 billion ARB tokens into circulation. This significant influx of tokens was distributed among the project’s team members, advisors, and investors, raising concerns about potential market impacts.
The distribution was 673.…
The post Arbitrum (ARB) Market Cap Hits ATH Despite Correction, Is a Rally Looming? appeared first on Coin Edition.
Read More