ARB Trading Volume Up 70+% As Whales Buy and Sell the Altcoin

The one-chain analysis platform, Lookonchain, took to Twitter this morning to share whether whales are buying or selling Arbitrum ($ARB) at the moment. Lookonchain’s data indicates that whales have been buying and selling $ARB over the last few days.

Whale “0xe04d” and whale “0xadf5” both bought $ARB from Binance and OKX 3 days ago. At the moment, both of these whales are holding their $ARB without transferring it out. In addition to this, the largest buyer of $ARB bought 111 $ARB with about 0.07 $ETH 10 hours ago. This whale currently holds 9.94 million $ARB worth an estimated $11.9 million.

On the other hand, whale “0x1dd9” received 2.52 million $ARB from Binance a week ago, after which the whale sold 2.03 million $ARB for 1,302 $ETH. The whale now holds 500k $ARB.

$ARB price (Source: CoinMarketCap)

According to CoinMarketCap, $ARB is currently trading hands at $1.19 after a 5.70% drop in price over the last 24 hours. The altcoin also reached a high of $1.29 and a low of $1.14 over the same time period. The crypto’s price decline over the last day has impacted its weekly performance as $ARB is down by more than 5% over the last seven days.

$ARB’s 24-hour trading volume is currently in the green zone, and stands at $1,131,854,673 after a more than 70% increase since yesterday. Its market cap of $1,523,632,237 means that $ARB is currently ranked as the 38th biggest crypto in terms of market capitalization.

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