In a notable development in the cryptocurrency market, peedan.eth, a leading whale wallet, has completed a series of transactions involving ARB and WBTC tokens.
According to on-chain analyst Ember Monitoring, peedan.eth sold 1.7 million ARB tokens worth approximately $1.47 million half an hour ago.
This sale was made at an average price of $0.867 per token. Interestingly, peedan.eth had previously purchased these ARB tokens between September 14 and September 29 at an average price of $0.825. This strategic move resulted in a 5% increase, resulting in a profit of approximately $70,000.
Following the sale of ARB tokens, peedan.eth purchased 60 WBTC tokens for $1.64 million at an average price of 27,438. WBTC can simply be described as Bitcoin's counterpart on the Ethereum network.
In another notable transaction, Wintermute Trading deposited 1 million ARB, equivalent to $870 thousand, on Binance. This deposit occurred at the same time as peedan.eth's transactions.
Arbitrum, which decreased by 4% during the day, is trading at $ 0.8736 at the time of writing this article.
*This is not investment advice.