GSR Market Withdraws $4.38 Million in ARB from Coinbase

IconCryptoNewsTerminal Staff22 Aug, 2024

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GSR Market Withdraws $4.38 Million in ARB from Coinbase

On-chain analyst ai_9684xtpa tweeted that an address linked to crypto market maker GSR Market withdrew 7.91 million ARB (approximately $4.38 million) from Coinbase five hours ago. The analyst suggests that the funds may be deposited to Binance in the future, following a similar pattern. GSR Market is a major player in the cryptocurrency market, providing liquidity and market-making services. The withdrawal of such a large amount of ARB may indicate that the firm is repositioning its assets or anticipating a change in the market dynamics for the token. It is important to note that this is just speculation at this point, and the reasons for the withdrawal are not yet confirmed. However, the movement of such a large amount of funds by a major market maker is certainly noteworthy and may have implications for the ARB market in the coming days.

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