Odaily reports that, according to Spot On Chain monitoring, 553 million ARB tokens, equivalent to roughly $631 million, were transferred from the Safe multi-signature address marked "Arbitrum: Investors ARB Vesting" to 151 attributable contract addresses 7 hours ago.
Among these, the contract address beginning with 0xdb2 received the highest amount - 8.75 million ARBs - whereas the lowest amount was received by 15 contract addresses, each acquiring 58,700 ARBs. This transfer could be in preparation for the first ARB unlock scheduled for March 16, 2024.
Token Unlocks data suggests that on March 16, 2024, a total of 1.11 billion ARBs from the ARB team and investors are expected to be unlocked, with an equivalent value of around $1.26 billion.