Yesterday's rumors that spot Bitcoin ETFs would be rejected led to sharp declines in Bitcoin and altcoins.
At this point, while Bitcoin fell below $ 41,000, Arbitrum, which attracted attention with its recent rise, also experienced a sharp decline.
Arbitrum, which dropped to $1.46, then recovered rapidly and rose above $2.
Turning this rise into an opportunity, the whale sold 1.08 million ARB at $1.94.
According to Lookonchain's post, the giant whale sold 1.08 million ARB after the rise and bought 947 Ethereum (ETH) worth $2.09 million in return.
This whale made its ARBs in two pieces. Accordingly, he made his first purchase by purchasing 1.79 million ARB at $1.34 for 1,337 ETH (worth $2.4 million).
He made his second purchase on May 1, buying 710 thousand ARB at $1.33 in exchange for 514 ETH (worth $943 thousand).
“After the ARB price increased, a trader sold all 1.08 million ARB for 947 Ethereum (valued at $2.09 million).
This whale spent 1,337 ETH (worth $2.4 million) to buy 1.79 million ARB at $1.34 on launch day.
He made his second purchase on May 1 and bought 710 thousand ARB for 514 ETH (worth $943 thousand) at $1.33.
Since the ETH price also increased during this period, the whale earned 124 ETH (worth $278,000) from this ARB trade.”
ARB continues to trade at $1.82 at the time of writing.
*This is not investment advice.