Arbitrum (ARB) Unlocks $51M in Tokens This Week

Major Token Unlocks Set for October 14-21, 2024

According to data from TokenUnlocks, over $498 million worth of tokens are scheduled for release between October 14 and October 21, 2024, with Arbitrum (ARB) leading the way.

Arbitrum (ARB) Leads Token Unlocks

Arbitrum (ARB) is set to release the largest amount of tokens in terms of value. TokenUnlocks data shows that the project will unlock 96 million ARB tokens, worth approximately $51.04 million. This represents 2.65% of ARB’s circulating supply.

Other Notable Cliff Unlocks

• AXS: 9.25 million tokens valued at $43.40 million.
• EIGEN: 11.22 million tokens worth $40.05 million.
• STRK: 64 million tokens valued at $27.38 million.

These token unlocks represent varying percentages of their respective circulating supplies, from as low as 0.05% for ADA to a significant 7.05% for PIXEL.

Linear Token Releases: Worldcoin and Solana

Several projects also have scheduled linear token releases this week. Leading the category is Worldcoin (WLD), with 37.23 million tokens valued at $85.25 million, representing 7.00% of its circulating supply.

Solana (SOL) follows closely, with 524.03K tokens worth $79.21 million, accounting for 0.11% of its circulating supply. Other key linear unlocks include:

• TAO
• Avalanche (AVAX)
• SEI

Each of these projects will release tokens valued between $17 million and $34 million.

Potential Market Impact

The substantial token unlocks scheduled for this week could potentially affect the market prices of the impacted cryptocurrencies. Some projects, such as Cardano (ADA) and Dogecoin (DOGE), will unlock relatively small portions of their total supply. For example, ADA is set to release 18.53 million tokens valued at $6.41 million, which accounts for just 0.05% of its circulating supply.

Crypto Market Begins on a Positive Note

This week’s token unlocks come as the crypto market shows positive momentum. The global crypto market cap, which had dropped by over 1.5% yesterday, has now risen by nearly 1.7%, reaching $2.23 trillion.

Bitcoin has reclaimed the $64,000 level, while Ethereum has surpassed $2,500, according to CoinMarketCap data. In the meme coin sector, Book Of Meme (BOME) has surged with a 24% pump, outperforming others in the category.