The @lookonchain tracker of “Smart Money” wallets has data that indicates that a few hours ago, Arbitrum carried out an airdrop, releasing over 90.15 million ARB coins to the crypto community via 131 DAO wallets.
Currently, the value of that ARB is estimated to be over $118 million USD.
The whale TRIDENT sold 131,345 ARB using three addresses for $1.31, making $172,000, according to the tracker.
On his Twitter account, expert Jack Niewold recently claimed that ARB has the ability to exceed other well-known cryptocurrencies including Hedera, Aptos, Stellar, ICP, ETC, LEO Token, Avalanche, and XRP.
This is possible because ARB can guarantee that its holders have access to leveraged ETH beta that cannot be liquidated. But the analyst reprimanded the ARB community, saying, “You sold the airdrop.”
In response to such criticism, cryptocurrency YouTuber and influencer Lark Davis stated that he has been staking ARB and did not sell.
On the CoinMarketCap scale, Arbitrum is ranked 35th. ARB is currently trading at $1.31 after seeing a little decline of less than 1% during the previous 24 hours.
