ARB Token Surges 21.73% After Major Unlock Event, Driven by 48% Fee Spike and User Growth

Arbitrum (ARB) has experienced a significant price increase in the last 24 hours, with the price rising 21.73% to $0.3803 on Binance, up from a 24-hour open of $0.3124. This surge is primarily attributed to heightened network activity, as evidenced by a 48% increase in transaction fees and a 30% rise in new and active addresses over the past week. The recent token unlock event on June 16, which released 92.65 million ARB tokens (1.91% of circulating supply), initially raised concerns about volatility but was followed by strong user participation and a notable price rebound. Trading volumes remain elevated, ranging from $194 million to over $276 million across platforms, and market capitalization is estimated between $1.55 billion and $1.79 billion. Despite a broader long-term downtrend, ARB is currently demonstrating strong short-term momentum and increased trader interest.