The filing of spot Bitcoin ETFs by big financial companies like BlackRock and Invesco has dispelled the negative mood in the crypto industry following the SEC's lawsuits against Binance and Coinbase.
These developments started the rally that took BTC to $31,000.
While BTC continues to hold above $ 30,000, some altcoins have attracted attention by positively separating from the market with their rise.
One of these altcoins was Arbitrum (ARB).
Whale purchases continue unabated at ARB, which has been in the focus of whales since its launch.
Popular cryptocurrency platform Lookonchain says two sleeping whales have woken up and bought ARBs.
“When a sleeping whale wakes up and buys a cryptocurrency, it must have known something in advance. The Arbitrum is rising today and 2 sleeping whales bought ARBs before the rise.
The whale named “0x1b67” awoke from its 1.6-year slumber and purchased 450,881 ARB ($504,000 worth) from Binance on June 25.
The whale named “0x3737” awoke from its 6-month slumber and bought 1.57 million ARBs at $1.07 on June 20, spending 939 ETH (worth $1.68 million).
When a dormant whale wakes up and buys a token, he must have known something in advance.$ARB is pumping today and 2 dormant whales bought $ARB in advance. pic.twitter.com/bWnGVIlcMz
— Lookonchain (@lookonchain) June 27, 2023
Stating that apart from these two whales who woke up from their sleep, other whales also bought ARBs, Lookonchain said:
The whale named “0xb28f” bought 321,934 ARBs at $1.16, spending 200 ETH (worth $375k) 2 hours ago.
The whale “0xb28f” also spent 300 ETH ($525,000 worth) in early June, buying 538.558 ARBs at $0.98.
Finally, the whale named “0x79cc” bought 937,176 ARBs at $1.13, spending 1,058,665 USDC about 10 hours ago.”
Whales are buying $ARB!
Whale"0xb28f" spent 200 $ETH ($375K) to buy 321,934 $ARB at $1.16 again 2 hrs ago.
"0xb28f" once spent 300 $ETH ($525K) to buy 538,558 $ARB at $0.98 on June 10.
Another whale"0x79cc" spent 1,058,665 $USDC to buy 937,176 $ARB at $1.13 about 10 hrs ago. pic.twitter.com/YsHriraZkr
— Lookonchain (@lookonchain) June 27, 2023
ARB, which has increased by about 6% in the last 24 hours, continues to trade at $1,208 at the time of writing.
*Not investment advice.
