Before looking at fund flows, make sure you understand the rules. Today, let’s talk about how to interpret token unlock events.
Who the unlocked tokens belong to is crucial: teams, early investors, ecosystem incentives, and community airdrops typically have different willingness to sell.
When calculating the size of an unlock, dividing the number of tokens unlocked this time by the current circulating supply is more informative than looking at the absolute number alone.
$ARB had its first unlock of team and investor allocations in March 2024. It is currently at 0.1682.

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