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⭕️PREZZO ARBITRUM SCENDE DEL 14%

⭕️PREZZO ARBITRUM SCENDE DEL 14%

Giorno: 16 maggio 2024 | Ora: 19:19 Il prezzo di Arbitrum è sceso dopo il rilascio di 92,65 milioni di token ARB nell'offerta circolante. Questo rappresenta il 3,49% dell'offerta circolante e porta la percentuale totale di token sbloccati al 29%. Il prezzo di ARB è diminuito del 14% negli ultimi 30 giorni a causa della pressione al ribasso generata dagli sblocchi programmati dei token. Attualmente, ARB è sceso sotto i due livelli di prezzo chiave e potrebbe raggiungere i minimi di un anno se i venditori prendono il controllo. Tuttavia, un breakout sopra l'1,00 dollaro potrebbe fornire un impulso per una potenziale ripresa.

The price of Arbitrum has dropped after the release of 92.65 million ARB tokens into circulation. This represents 3.49% of the circulating supply and brings the total percentage of unlocked tokens to 29%. ARB's price has decreased by 14% in the past 30 days due to the downward pressure generated by the scheduled token unlocks. Currently, ARB has fallen below two key price levels and could reach year lows if sellers take control. However, a breakout above $1.00 could provide a boost for a potential recovery.

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Arbitrum’s price slipped on Thursday after the market reacted to the release of more ARB tokens into circulating supply.

The ARB token reached highs of $0.99 as Bitcoin led the crypto market higher with its spike above $66k.

However, the altcoin traded lower after 1:00 pm UTC on the day following the token unlock that added 92.65 million ARB to the market. The total value of the unlocked ARB was $92.2 million.

This was a cliff unlock that saw 56.13 million ARB, or 2.11 of circulating supply unlocked for the team and Arbitrum advisors. The other 36.52 was for investors and accounted for 1.38% of circulating supply.

According to data from TokenUnlocks, this latest ARB release represents about 3.49% of circulating supply, and brings the total percentage of unlocked tokens to 29%.

Arbitrum has a total supply of 10 billion ARB, with circulating supply currently at 2,653,939,384.

Per TokenUnlocks, the next ARB to enter circulation will be on May 21, 2024.

Arbitrum price outlook

Arbitrum price rose to above $2.40 in January this year as cryptocurrencies began 2024 on a roll. The token’s value also surged to above $2.20 in March as BTC and ETH rallied, with news related to trading app Robinhood Crypto helping bulls.

However, ARB has struggled with downward pressure in recent weeks and is currently down 14% in the past 30 days.

Downside pressure for ARB has significantly come during the scheduled token unlocks, a scenario that has negative sentiment surrounding the popular project.

That outlook is what has seen ARB fall below two key price levels in the past month.

In mid-April, the Arbitrum price fell below the horizontal line at $1.25. The zone served as a resistance area soon after, aiding bears’ push below the psychological $1.00.

ARB has since tested $0.93 and could revisit one year lows of $0.75 if sellers take control. On the upside, a breakout above $1.00 could provide impetus for a potential recovery.

In the past 24 hours, ARB/USD has retreated by 2%.

The post Arbitrum price under pressure amid new ARB token unlock appeared first on Invezz