Ahead of two major ARB events taking place next week, cryptocurrency whales with wallet numbers 0x141 and 0xc99 jointly deposited 2.77 million ARB ($5.94 million) to Binance approximately 8 hours ago. This move reportedly resulted in a realized profit of $3.29 million.
It is predicted that the following two events may affect the Arbitrum (ARB) altcoin price next week:
- Dencun Update (March 13, 2024): This update is expected to significantly reduce the layer 2 transaction fee.
- Giant Token Unlocking Event (March 16, 2024): A staggering 1.11 billion ARB ($2.38 billion) or 76.6% of the circulating supply will be unlocked.
The 0x141 whale deposited the entire 916,787 ARB ($1.96 million) to Binance at $2,142. This whale had previously withdrawn these ARB tokens from Binance on December 28, 2023 at $1,478 ($1.36 million). If he sells now, the whale will make an estimated profit of $608k (+44.8%) in 2.5 months. This whale is not currently holding any ARBs.
The 0xc99 whale deposited 1.85 million ARB ($3.98 million) into Binance at a price of $2,149. This whale has made significant profits from ARB, with an estimated total profit of $6.62 million:
- Whale withdrew 5.021 million ARB from Binance and OKX on September 25, 2023, at an average price of $0.814 ($4.09 million).
- Whale deposited 2.021 million ARB on Binance and Gate.io on March 5 and 9, 2024 at an average price of $2.134 ($4.31 million), earning $2.67 million (+162%).
- Whale still holds ARB 3 million ($6.39 million) and has made another $3.95 million in unrealized profits.
- ARB price is trading at $2.11 at the time of this writing.
*This is not investment advice.
