Altcoins

Largest Buyer Of Arbitrum Holds Steady, Whales Are Accumulating More

According to Lookonchain, Amber, a significant player in the market, has reduced most of its holdings of $ARB. This shift in position suggests that Amber may be moving away from $ARB and may no longer see it as a viable investment opportunity.

2/ 2 related addresses of Amber transferred 11.2M $ARB ($15.8M) out, of which 7.3M $ARB ($10.3M) was transferred to #OKX and #Binance.

And currently holding 4.47M $ARB ($6.3M).https://t.co/h01Z9OeFw0https://t.co/jFBmTJyz5s pic.twitter.com/avJIbxwPBq

— Lookonchain (@lookonchain) March 31, 2023

The report found that two related addresses of Amber transferred 11.2M $ARB ($15.8M) out, of which 7.3M $ARB ($10.3M) was transferred to OKX and Binance. This transaction suggests that some investors may move away from $ARB and see other cryptocurrencies as more attractive investment opportunities.

Conversely, the report also found that three other whales were accumulating $ARB.

  • Whale “0xe04d” received 2,186,954 $ARB ($3.08M) from OKX one day ago, then received 1,861,993 $ARB ($2.62M) from OKX and Binance again 10 hours ago. Currently, this whale holds 4,048,948 $ARB ($5.71M).
  • Whale “0xadf5” received 2,288,820 $ARB ($3.22M) from OKX one day ago, then received 1,810,697 $ARB ($2.55M) from OKX again 10 hours ago. Currently, this whale holds 4,099,518 $ARB ($5.78M).
  • Whale “0xa252” received 334,799 $ARB ($472K) from Binance one day ago, then received 668,999 $ARB ($943K) from Binance again 10 hours ago. Currently, this whale holds 1,003,798 $ARB ($1.41M).

This behavior indicates that these institutions may be bullish on the future of $ARB and believe that it has significant potential for growth in the future.

The largest buyer of $ARB is still holding onto their investment and has not transferred any $ARB out. This investor’s behavior may suggest that they believe in the long-term potential of $ARB and are not concerned with short-term fluctuations in the market.

Additionally, the largest buyer of $ARB on the first day of listing received 5M $ARB ($5.73M) from Binance after buying 4.94M $ARB with 3,700 $ETH ($6.79M) with an average price of $1.38. This information provides insight into the initial behavior of investors when $ARB was first listed and may indicate the sentiment of the market at that time.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

   

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