FxWirePro- Token unlock Today (Arbiturm)

Arbitrum (ARB) will unlock 92.65 million ARB tokens, which is about 2.20% of the total supply of 4.21 billion ARB tokens on January 16, 2025. It is a pretty important event as it introduces new tokens in significant amounts worth about $70.9 million into the market.

The unlock date is January 16, 2025. The current price of ARB is about $0.880, a recent increase of around 6.35%. The market cap for Arbitrum is at about $3.7 billion with a trading volume of about $540 million.

When these tokens start unlocking, that may mean the selling pressure as people can begin trading in them. Dealers and investors would have to remain vigilant concerning the price since this is an event of a kind most likely to swing prices. The event falls into the general context of January 2025; several cryptocurrencies begin experiencing heavy unlocks of tokens within projects valued more than $7 billion. Such may, of course, cascade down to an effect on feelings and behaviors around the entire crypto space.

ARBUSD major resistance and support

Major resistance- $1

Major support - $0.65