- According to Spot On Chain, ARB price dropped 11% amid a market downtime and a major unlock.
- Six wallets that recently received tokens from vesting contracts deposited 8.95 million ARB to Binance.
- ARB’s price fell significantly, breaking below notable support at $1.685.
According to Spot On Chain, the on-chain platform for crypto analytics, Arbitrum (ARB) price dropped 11% amid a market downtime and a major unlock. In a post on X, Spot On Chain noted that six wallets that recently received tokens from vesting contracts deposited 8.95 million ARB, equivalent to $16.4 million to Binance.
The $ARB price dropped 11% (12H) amid a market downtime and a major unlock!In the past 12 hours, 6 wallets, which just received tokens from vesting contracts, have deposited 8.95M $ARB ($16.4M) to #Binance.
They still hold 32.95M $ARB ($56.7M) and may deposit out more tokens!… pic.twitter.com/165fOuMpvh
— Spot On Chain (@spotonchain) March 17, 2024
The analytics platform further noted that the identified wallets still hold 32.95 million ARB, worth $56.6 million, and may deposit more tokens.
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