- Wintermute amassed $36.3 million in ARB tokens in eight hours.
- This coincides with a $2.23 billion ARB token unlock on March 16.
- Ethereum’s Dencun upgrade led to decreased fees on Arbitrum’s chain.
In the past eight hours, cryptocurrency trading firm Wintermute Trading has accumulated a net amount of 17.08 million Arbitrum (ARB) tokens, according to data from blockchain analysis firm Spot On Chain. This represents a total value of $36.3 million.
In the past 8 hours, Wintermute Trading (@wintermute_t) accumulated a net amount of 17.08M $ARB ($36.3M) from CEX, expanding their $ARB position vastly before the upcoming massive unlock on Mar 16!Current holding: 29.48M $ARB ($61.9M).
Follow @spotonchain and check out the… pic.twitter.com/mM64jxM14Z
— Spot On Chain (@spotonchain) March 14, 2024
The increase in Wintermute’s ARB holdings comes just two days before a scheduled unlock of 1.11 billion ARB tokens, worth approximately $2.23 billion, on March 16, 2024.
Wintermute Trading Transactions. Source: Spot On Chain
Over the past eight hours, according to Spot On Chain, Wintermute Trading withdrew 19.19 million ARB tokens from cryptocurrency exchanges Bi…
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