- Earlier today, a whale sold 843 ETH to purchase 1.61 million ARB tokens.
- ARB’s price climbed by more than 3% throughout the past day, bringing its trading value up to $0.9634.
- Exciting Arbitrum projects like Orbit, Arbswap, and Badger could be one of the factors attracting whale attention.
Earlier today, the on-chain analytics platform, Lookonchain, shared in an X post that a whale used Ethereum (ETH) tokens to stock up on Arbitrum (ARB). According to the post, the whale spent 843 ETH, worth about $1.5 million, to purchase 1.61 million ARB at $0.95.
This whale has been supporting ARB for about a week now as Lookonchain’s data indicates that it has been providing liquidity on ARB since 23 October to earn trading fees. It is possible that this whale’s support could have in part contributed to ARB’s price increase throughout the past 24 hours.
A whale spent 843 $ETH($1.5M) to buy 1.61M $ARB at $0.95 11 hours ago.The whale has been providing liquidity on $ARB since Oct 23 to earn trading fees.https://t.co/G176RplVcg pic.twitter.com/tW12MWupNh
— Lookonchain (@lookonchain) October 31, 2023
Data from CoinMarketCap indicated that ARB’s price jumped b…
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