Giant Whale Takes Huge Loss on Altcoin, Losing Half Its Value Since January: Yet It Bought More Today

Experts from the cryptocurrency analysis platform Lookonchain have detected advanced whale activity in some altcoins in recent hours.

According to the statement made by analysts, a cryptocurrency whale bought $ 4.3 million Arbitrum (ARB) token hours ago. The last purchase was at an average price of $1.03. This whale has been involved in Arbitrum trading since July 18, 2023.

According to the data, the whale wallet had purchased a total of 39 million ARBs at an average price of $ 1.25, paying $ 49 million so far. However, this whale has sold 37.5 million ARBs on the Arbitrum trade so far at an average price of $1.2, making a total of $44.9 million.

So this whale actually lost more than $2 million from ARB trading.

The whale currently has 5.98 million ARB worth $6.15 million. At the time of this writing, the ARB price is trading at $1.03.

Arbitrum reached its all-time high, reaching $2.40 in January 2024. At the time of writing this article, it is trading at a level 57% lower than its all-time high price level.

*This is not investment advice.