Arbitrum's token ARB is having a rough Thursday. The price is down nearly 3%

Arbitrum's token ARB is having a rough Thursday. The price is down nearly 3% over the past 24 hours, now hovering around $0.4080

Arbitrum's token, ARB, has experienced a decline of nearly 3% in the past 24 hours, bringing the price to approximately $0.4080. This minor decrease occurs just a few hours ahead of a significant unlock event scheduled for 1 PM UTC on May 16.

During this event, roughly 92.65 million ARB tokens, valued at around $37.8 million, will be added to the circulating supply. This injection constitutes almost 2% of the total supply, making it a factor that traders are keenly aware of.

As this event approaches, it is anticipated to bring increased volatility to the token's price. The slight dip observed in the past few hours might be an indication of the market anticipating this event and factoring it into the current valuations.

Despite the price movement, ARB has seen a surge in trading activity. Volume has increased by over 32% in the past 24 hours, reaching $312.7 million. This heightened interest from traders is evident in the token's performance.

At present, approximately 4.13 billion ARB tokens are already circulating in the market, which is about 41% of the total supply. At current market prices, this portion of the supply is worth roughly $1.69 billion.

Furthermore, 2.47 billion tokens are locked, which constitutes around 24.6% of the total supply, while 3.4 billion more tokens, or 34%, are listed under "TBD locked," indicating that they are still awaiting their planned release schedule.

In the cryptocurrency market rankings, ARB is positioned at the 50th spot, and it has more than 357,000 holders. This unlock is part of the predetermined token release plan for Arbitrum, and it is being executed as planned. However, the immediate impact on the market will become evident when the tokens are actually credited to wallets.output: Arbitrum’s token is having a rough Thursday.

The price of ARB has decreased by nearly 3% over the past 24 hours, bringing the token to around $0.4080. This minor decrease comes just a few hours ahead of a major unlock event, which is set to take place at 1 PM UTC on May 16.

During this event, roughly 92.65 million ARB tokens, which are currently worth around $37.8 million, will be released into circulation. This injection will constitute almost 2% of the total supply, making it a factor that traders are keenly anticipating.

Such events are often linked to increased volatility in the token's price. The slight dip observed in the past few hours might be an indication of the market anticipating this event and factoring it into the current valuations.

Even with the price movement, ARB has seen a surge in trading activity. Volume has increased by over 32% in the past 24 hours, reaching $312.7 million. While some traders appear to be preparing for a potential sell-off, others seem to be eyeing a quick bounce.

At the moment, roughly 4.13 billion ARB tokens are already in circulation, making up around 41% of the total supply.

At current prices, that chunk alone is worth roughly $1.69 billion. Another 2.47 billion tokens are locked (about 24.6%), while 3.4 billion more (34%) are listed under “TBD locked”—essentially tokens still waiting for their release schedule.

ARB sits at the 50th spot on the crypto rankings, with more than 357,000 holders. This unlock is part of its planned token release schedule, but it’s clearly shaking things up in the short term. Whether the market absorbs the new supply smoothly or reacts with more downside will become clearer once the tokens actually hit wallets.