Arbitrum (ARB) Unlocks 2.32 Billion Tokens, Whales Move $57 Million, Price Drops 23%

In the world of cryptocurrency, Arbitrum (ARB) recently unlocked 1.1 billion tokens, valued at $2.32 billion, leading to significant market movements. Whales swiftly transferred $57 million worth of ARB tokens, hinting at potential market shifts. The unlocking triggered a 23% price drop in ARB's value, which experienced a noticeable decline from its all-time high. This event and subsequent price drops reflect the uncertainty surrounding Arbitrum's market performance amidst broader market corrections affecting major cryptocurrencies such as Bitcoin and Ethereum.