Twitter account @lookonchain@ that tracks transactions of "Smart Money" and whale wallets has noticed that, recently, a whale has received several million $ARB tokens from two top crypto exchanges — Binance and Gate.io — presumably withdrawing the tokens after purchasing them.
According to the tweets, the whale bought roughly 3.67 million Arbitrium from Binance and Gate.io when the token's price went up to the $1.48 level. The purchase was worth $5.4 million.
Later on, the same wallet withdrew 827,766 $ARB (evaluated at $1.16 million) from Gate.io. At present, this whale's wallet contains a total of 4.53 million Arbitrum. That is the equivalent of $6.34 million.
A whale received ~3.67M $ARB ($5.4M) from #Binance and https://t.co/Q1M8T0O4yl after the $ARB price rose to $1.48.https://t.co/fMfTRDcnYp pic.twitter.com/PVrcK1fXV8
— Lookonchain (@lookonchain) April 27, 2023
Earlier today, the $ARB price took a dive from a peak of $1.49 to $1.34, according to CoinMarketCap. By now, the price has managed to recover a little and is sitting at $1.4094.
Recently, U.Today reported that $ARB experienced a rise by nearly 12% as whales began to accumulate this token. Prior to that, Arbitrum made an airdrop of 90.15 million $ARB to 131 DAO addresses.
One of them, dubbed TRIDENT, immediately sold 131,345 $ARB at the price of $1.31 via three wallets after receiving its portion of the airdrop. That earned the address $172,000, according to @lookonchain.
According to CoinMarketCap, Arbitrum's native token $ARB reached a historic peak of $11.80 a month ago, on March 23. Currently, it is trading 88.06% below that level. $ARB is ranked 36th on the aforementioned crypto analytics website.
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coinpedia.org
blockchainreporter.net
