In the wake of recent turbulence in the cryptocurrency market, OffchainLabs has made significant moves to strengthen its position in the $ARB token. The latest data reveals that OffchainLabs has acquired a substantial amount of $ARB tokens on the Binance exchange. OffchainLabs has accumulated a total of 1.367 million $ARB tokens from Binance at an average cost of $0.95, amounting to approximately $1.3M million.
In the last four days, OffchainLabs has acquired 3.087 million $ARB tokens at an average price of $0.97, totaling around $3 million. This purchase is not an isolated event, as OffchainLabs has been steadily accumulating $ARB tokens over the past few weeks.
OffchainLab’s acquisitions
Just a while ago, OffchainLabs executed a purchase of 1.72 million $ARB tokens from Binance at an attractive price of $0.99 per token, amounting to approximately $1.7 million. This strategic acquisition comes on the heels of a notable downturn in the $ARB market over the past two days, indicating a well-timed move to capitalize on market conditions.
These acquisitions reflect OffchainLabs’ commitment to strengthening its position in the cryptocurrency market, particularly in $ARB tokens, which have experienced recent price fluctuations. As the market continues to evolve, it remains to be seen how these strategic moves will impact OffchainLabs’ overall portfolio and its future strategies in the crypto space. Investors and market observers will undoubtedly keep a close watch on OffchainLabs’ activities in the coming weeks.
Source: https://blockchainreporter.net/offchainlabs-bolsters-arb-holdings-amid-market-turbulence/