Anchorage Digital's alleged address deposits $2.57M worth of ARB on Coinbase
CryptoNewsTerminal Staff04 Jun, 2024
Anchorage Digital's alleged address deposits $2.57M worth of ARB on Coinbase
Anchorage Digital, a leading digital asset platform, has recently transferred a significant amount of Arbitrum (ARB) tokens to Coinbase, one of the world's largest cryptocurrency exchanges. According to data from crypto intelligence platform TheDataNerd X, Anchorage Digital's alleged address deposited approximately 2.3 million ARB tokens, valued at around $2.57 million, on Coinbase just 9 hours ago. This transaction suggests that Anchorage Digital may be preparing to offer trading or custody services for ARB tokens on its platform. Currently, the alleged Anchorage Digital address holds a total of 26.52 million ARB tokens, with a market value of approximately $29.45 million. These tokens were mostly received from the Arbitrum Foundation, which oversees the development and maintenance of the Arbitrum network. The transfer of ARB tokens to Coinbase by Anchorage Digital is a significant development, as it indicates growing institutional interest in Arbitrum and its native token. Arbitrum is a Layer 2 scaling solution built on Ethereum that offers faster and cheaper transactions compared to the main Ethereum network.
