- A whale or institution received a total of 11.76 million ARB, worth $14.82 million.
- Andrew Kang bought more than 700k ARB with 1 million USDC after Tweeting about the crypto.
- ARB is currently trading hands at $1.26 after a 6.93% price increase.
Despite its rather rocky introduction to the crypto world in March, whales still seem to be accumulating Arbitrum (ARB). The analysis platform, Lookonchain, shared a Twitter post this morning revealing that a whale or institution received a total of 11.76 million ARB, worth $14.82 million, from Binance and Gate.io over the last 24 hours.
The address that received this huge amount of ARB is a new address and seems to only hold ARB at the moment. In addition to this, Lookonchain also revealed that another whale, known as Andrew Kang, bought more than 700k ARB with 1 million USDC at a price of $1.26 after Tweeting about this specific crypto.
Things are certainly looking up for ARB at the moment, so much so that the altcoin has earned itself a spot on CoinMarketCap’s trending list after a successful last 24 hours. ARB is currently trading hands at $1.26 after a 6.93% price increase over the last day. The altcoin also reached a high of $1.28 over the same time period.
Over the longer term, ARB still has some room for improvement. Although ARB is up by 0.18% over the last week, the crypto is still down by just under 90% over the last month. ARB’s 24-hour trading volume is in the green zone, and stands at $799,253,781 after a more than 3% increase since yesterday.
Its market cap of $1,617,631,284 means that ARB is currently ranked as the 37th biggest crypto in terms of market capitalization.
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Source: https://coinedition.com/crypto-whales-are-making-it-a-priority-to-accumulate-arb/