As the value of Arbitrum’s DAO asset drops by more than 33% in just 30 days, at least three ARB whales may be selling their tokens. One of them still possesses a sizable investment in ARB tokens that may be sold.
Arbitrum (ARB) whales moved 10,000,000 tokens to Binance (BNB), mass-selling?
Three top-tier Arbitrum (ARB) whales transferred their wealth to Binance (BNB), the biggest cryptocurrency exchange, today, September 11, 2023. Over 10.2 million ARB tokens were transferred in total.
https://x.com/WuBlockchain/status/1701245448617435447?s=20
According to Colin Wu, a Chinese cryptocurrency writer, the first whale sent 3.8 million ARB to Binance (BNB) and sold them there for $0.77 each. The whale still has 13.7 million ARB tokens to sell and made 1,812 Ethers (ETH) from this transaction.
3.63 million ARB were sold by vladilena2.eth, another mega whale, at a price of $0.83 per token. This address still has over $14 million in different cryptocurrencies in it, and in the last day, Lido Finance (LDO) sent 2,800 Staked Ethers (stETH) to it.
When the price was $0.79, the third whale transferred 2.8 million ARB to Binance (BNB). By the time of publication, the price of ARB had fallen to $0.77, allowing all three whales to immediately recoup their investment with a profit.
Arbitrum (ARB) remains dominant L2, releases game-changing Stylus tool
ARB token has suffered terribly over the past 30 days, losing a third of its capitalization. On the main spot markets, the price fell to an all-time low today, September 11, 2023.
The most widely used second-layer scaling option for Ethereum (ETH) is still Arbitrum (ARB), nevertheless. It is in charge of 55% of Ethereum’s L2 ecosystem, with $5 billion in TVL.
As previously reported by U.Today, Arbitrum developers published Stylus on August 31, a tool that enables WASM smart contracts to go live on blockchains similar to Ethereum.
