Arbitrum (ARB), a leading Ethereum Layer-2 scaling solution, experienced a major token unlock that led to significant value exchange among investors, impacting the price of the ARB token.
After the major unlock on March 16, millions of tokens were sent to exchanges. Lookonchain data shows that after the major unlock, 11 whales sent approximately 34 million ARB tokens worth around 60 million dollars to exchanges. According to SpotOnChain, 8.95 million ARB tokens worth $16.4 million were also moved to the Binance exchange.
Following the 2.32 billion dollar unlock of 1.1 billion ARB tokens, the token price dropped significantly. In addition to transfers, ARB price dropped to $1.62, the lowest level since January, due to the general downturn in the crypto market.
Despite the millions of ARB tokens sent to exchanges, many whales are still holding ARB tokens. The drop in ARB token price was measured at 12.85% in the last 7 days according to CoinMarketCap data. As of the time of writing this article, Arbitrum is trading at $1.73.
It remains to be seen whether ARB will reach $10, compared to its all-time high of $2.40 two months ago in January. Given the current circumstances, it doesn’t seem likely for ARB to reach $10 in the short term.
All-time lows are not just specific to Arbitrum, the cryptocurrency market is going through challenging times. Despite all these challenges, the Dogecoin20 project, with a presale that attracted attention, is drawing interest from investors with funds exceeding 5 million dollars.
Dogecoin20 Token Raised Over 5 Million Dollars
The project, which met with early-stage investors through the presale event, allowing for discounted purchase of Dogecoin20 tokens, raised over 5 million dollars. Claiming to be an environmentally friendly alternative to Dogecoin, DOGE20, an Ethereum-based ERC-20 token, has entered the top meme coin lists in the presale.
Through the presale stages, investors encounter different pricing policies at each stage. The price increase between stages encourages investors to join the project at an earlier stage. DOGE20, which raised over 5 million dollars, promises more potential gains for early investors.
DOGE20 investors waiting for CEX and DEX listings are eagerly waiting to see the direction of the token price after the listings.
DOGE20 Offers Passive Income Opportunity with Staking
Investors get the chance to earn rewards by staking the DOGE20 tokens in return for locking them for certain periods. Whereas the total staked DOGE20 token count is around 15 billion, the Annual Percentage Yield (APY) is positioned at 187%. Despite a decrease in APY as more participants join the staking pool, the project team promises 6751 DOGE20 tokens per ETH block.
15% of all DOGE20 tokens are distributed to participants through the staking mechanism. The staking rewards, with 12.5% in the first year and 2.5% in the second year, will be distributed to participants within a two-year period.
A total of 21 billion DOGE20 tokens are planned to be distributed to participants joining the staking pool.
How to Buy DOGE20?
To buy Ethereum-based Dogecoin20 tokens, investors need to participate in the ongoing presale event. DOGE20 has a total supply of 140 billion tokens, and 35 billion tokens, equivalent to 25%, are available to investors in the presale.
There are a total of 12 stages in the DOGE20 presale. The project team, wanting to reward early investors, adopts a gradual price increase policy. While the price of DOGE20 was $0.000140 in the first stage, it rises to $0.000206 in the final stage.
At the moment, DOGE20 is available for purchase at $0.000204. In other words, investors have limited time to buy Dogecoin20 at discounted prices. The fixed-price purchase window for DOGE20, which is likely to rally after the upcoming exchange listings, is gradually shrinking.
Positioned as an upgrade to Dogecoin, which has rallied with Elon Musk, DOGE20 is waiting for early investors. Investors who want to buy DOGE20 can participate in the presale with ETH, USDT, BNB, or card transactions.
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