The altcoin price of Arbitrum (ARB), an Ethereum layer-two scaling solution using optimistic rollup technology, has seen fluctuations over the past week as whales show mixed signals regarding buying and selling activity.
What's the Latest Situation in Large Arbitrum Whales?
According to a report by Lookonchain, a platform that tracks whale transactions, 23 whales, each with over 1 million ARB coins, have made different moves over the past week.
Of these, three whales sold approximately 22.8 million ARBs ($38 million) at $1.37 and $1.69, while 11 whales neither bought nor sold ARBs.
On the other hand, nine whales bought approximately 12.4 million ARB ($21 million) between the $1.20 and $1.5 price level.
At the time of this writing, the ARB price is trading at $1.64.
Recently, a large Arbitrum whale sent 11 million ARB tokens to Binance. It is not known whether the whale in question, whose purchase level is $ 1.24, sells altcoins sent to Binance. If the whale sells at the current level, it will have made a profit of $ 4.54 million.
*Not investment advice.