Arbitrum Token Insights: Noteworthy 20 Holders Control 59.51% of an Impressive 5.95 Billion ARB Tokens

Layer 2 blockchain Arbitrum In the upcoming days, 1.11 billion ARB tokens, valued at $2.26 billion, will be released, marking 76.62% of the total available supply. This release includes 673.5 million ARB, worth $1.37 billion, allocated for the existing team, future team members, and advisors, along with 438.25 million ARB, valued at $894.03 million, earmarked for investors.

According to the blockchain analytics firm Lookonchain, the top 20 holders of ARB currently control 5.95 billion ARB tokens, which is a whopping 59.51% of the total supply, translating to around $11.78 billion.

In the past week, there have been notable transactions involving large holders acquiring ARB tokens. One address, beginning with 0x4009, withdrew 2.3 million ARB, equivalent to $4.57 million, from an exchange. Binance Additionally, another address starting with 0x1219 invested 505 Ethereum (ETH), amounting to $1.96 million at an average price of $2.17, to acquire 901,685 ARB just three days ago. Ethereum On the flip side, in the last seven days, six significant holders sold off portions of their ARB tokens. For instance, Synapse sold 1.03 million ARB for 2.13 million USDC yesterday, averaging a price of $2.07. Similarly, dForce transferred 2.45 million ARB, worth $5.1 million, to Binance.

The total ARB supply stands at 10 billion, with various allocations: 3.528 billion ARB (35.28%) reserved for the treasury, 2.694 billion ARB (26.94%) for team members and advisors, 1.753 billion ARB (17.53%) for investors, 1.162 billion ARB (11.62%) allocated to users via airdrop, 750 million ARB (7.5%) for foundational purposes, and 113 million ARB (1.13%) directed to decentralized autonomous organizations (DAOs) through airdrops.

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Developed by Offchain Labs, Arbitrum is designed as a Layer 2 scaling solution for Ethereum, facilitating quicker smart contract executions while minimizing transaction costs. The native governance token, ARB, which is ERC-20 compatible, can be utilized for transferring value within the Arbitrum network and engaging in governance regarding protocol operations, financing, and ecosystem growth. Airdrops Calendar .

Behind the ARB Token

In 2019, Offchain Labs secured $3.7 million in initial funding led by Pantera Capital. Then in 2021, the firm amassed an additional $20 million in a Series A funding round, followed swiftly by a notable $100 million in a Series B round spearheaded by Lightspeed Venture Partners, coinciding with the Arbitrum mainnet launch. key decisions As we approach the release of new ARB tokens, significant market movements and analytics offer a detailed snapshot of the current governance token landscape of Arbitrum. technical adjustments .

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