ARB tokens were recently unlocked, causing a decrease in Arbitrum's price. This decrease comes after a high of $2.20 in March, with the next unlock scheduled for May 21. The recent unlock added 92.65 million ARB tokens to the market, with a total value of $92.2 million. This represents 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.

The price of Arbitrum rose above $2.40 in January and again above $2.20 in March, but has struggled with downward pressure in recent weeks. It is currently down 14% in the past 30 days, with downside pressure coming during scheduled token unlocks. This has led to a negative sentiment surrounding the project, causing the price to fall below key levels. In mid-April, the price fell below $1.25, and has since tested $0.93. If sellers take control, the price could revisit one year lows of $0.75. However, a breakout above $1.00 could provide impetus for a potential recovery.

The recent unlock saw 56.13 million ARB, or 2.11% of circulating supply, unlocked for the team and Arbitrum advisors. The remaining 36.52% was for investors and accounted for 1.38% of circulating supply. The total supply of ARB tokens is 10 billion, with circulating supply currently at 2,653,939,384. The next ARB token unlock is scheduled for May 21, 2024.

The price of Arbitrum has been volatile in recent weeks, with a decrease of 2% in the past 24 hours. The token's value has struggled with downward pressure, causing it to fall below key price levels. However, a breakout above $1.00 could provide impetus for a potential recovery. The market will be watching the next token unlock on May 21 to see how it affects the price of Arbitrum.