Arbitrum (ARB), Ethereum's leading Layer-2 network, started airdrop distribution to DAOs yesterday.
On-chain data from Arbitrum shows that the foundation has transferred a significant amount of ARB tokens to approximately 130 DAO addresses today.
After the Arbitrum airdrop started, the whales continued to receive ARBs.
Popular cryptocurrency analysis platform Lookonchain said in its post today that two whales holding over 1 million ARBs received more ARBs.
Stating that the whale named "0x09d4" bought 142,459 ARB (worth $ 199,000) from Binance for $ 1.38, Lookonchain wrote that this whale currently has a total of 1.95 million ARB (worth $ 2.73 million).
Lookonchainm also stated that the whale named "0x4322" also purchased 108,438 ARB (worth $146,000) at $1.34 for 80 Ethereum (ETH).
This whale was also found to have 1.78 million ARBs, worth a total of $2.5 million.
He stated that the whale named "0x4322", who bought ARB for 80 ETH, performed successful transactions in token trading and earned more than $ 7.3 million in transactions.
The rise in Bitcoin and altcoins also showed itself in Arbitrum. ARB, which has increased by 9.04% in the last 24 hours, continues to trade at $ 1.47 at the time of writing.
*Not investment advice.