Millions of Arbitrum (ARB) Bought by Whale as ARB Dips, Here’s How Much Held Now

Arbitrum

Several million ARB tokens were just received by a whale from two of the largest cryptocurrency exchanges, Binance and Gate.io, according to the Twitter account @lookonchain@ that monitors activities of “Smart Money” and whale wallets. This whale is likely withdrawing the tokens after acquiring them.

The whale purchased around 3.67 million Arbitrium from Binance and Gate.io when the token’s price increased to the $1.48 mark, according to the tweets. The cost of the acquisition was $5.4 million.

Later, the same wallet removed from Gate.io 827,766 ARB, worth $1.16 million. This whale currently has 4.53 million Arbitrum in his wallet. The equal amount is $6.34 million.

According to CoinMarketCap, the ARB price fell from its high of $1.49 to $1.34 earlier today. The price is currently at $1.4094 after making a little recovery.

ARB recently increased by about 12%, according to a recent U.Today article, as whales started to gather this coin. Before that, Arbitrum distributed 90.15 million ARB through airdrop to 131 DAO addresses.

After receiving its share of the airdrop, one of them, called TRIDENT, quickly sold 131,345 ARB for $1.31 via three wallets. The address made $172,000 as a result, according to @lookonchain.

Arbitrum’s native token ARB, according to CoinMarketCap, hit an all-time high of $11.80 on March 23. It is currently trading 88.06% below that mark. On the aforementioned crypto analytics website, ARB is placed 36th.

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