Will Increased Circulating Supply Impact ARB’s Value by 2024?

  • Arbitrum has engaged in various activities to establish itself since its inception.
  • There are projections that ARB’s circulating supply will more than double next year.
  • The circulating supply will increase by 116.3%, according to data from Token Unlocks.

Arbitrum (ARB), a scaling solution on Ethereum, is expected to inject more native tokens into circulation by March 2024. According to projections, the anticipated token release would double the current ARB circulating supply in Arbitrum’s network.

ARB, Arbitrum’s native token has experienced some volatility during this period, responding to market trends and the overall crypto market behavior. However, some developments are peculiar to Arbitrum, as ARB investors focus on the token’s price behavior in the recent past. They are also observing the proposed activities that could impact ARB’s price in the future.

One anticipated development that could impact ARB’s value is the impending increase in the digital token’s circulating supply. There are projections that ARB’s circulating supply will more than double next year. Precisely, it is expected to increase by 116.3%, according to data from Token Unlocks, a crypto tokens analytics platform.

Token Unlocks highlighted some of ARB’s growth indicators, including the significant increase in users holding the digital token. According to the analytics platform, ARB token holders have reached 611,000 since it launched in March 2023. Per the anticipated increase in circulating supply, Token Unlocks noted the expectation of a significant ARB unlocking exercise on March 16, 2024. The unlocking will introduce 1.11 billion new ARB tokens into circulation.

Considering the expectation, Token Unlocks anticipates the number of ARB holders to reach 2.07 million by 2024. That would reflect a 330% increase in the digital token’s adoption rate and could generate significant bullish sentiment for the layer-two protocol.

This bullish sentiment appears to be playing out as users observe significant bullish ARB-related transactions in the crypto marketplace. Lookonchain, the smartmoney on-chain tracker, recently identified a whale involved in multiple ARB withdrawals from the Binance exchange. Lookonchain’s post highlighted that the whale has withdrawn 11 million ARB tokens worth over $13 million.

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