Whale Acquires 4.17 Million $ARBs Amidst Price Decline
CryptoNewsTerminal Staff18 May, 2024
Whale Acquires 4.17 Million $ARBs Amidst Price Decline
Cryptocurrency whales are known for their substantial investments, often influencing market fluctuations. Recently, a whale made a notable purchase of 4.17 million Arbitrum ($ARBs) tokens at $1.04 each, amounting to approximately $4.34 million. This transaction occurred approximately 6 hours ago, indicating the whale's bullish sentiment amidst the recent price decline experienced by $ARBs. Previously, the token had been trading at $2.16, facing downward pressure due to continuous selling by institutions post-unlock in March, leading to its current value of $0.93. This whale's significant purchase could potentially signal a change in sentiment and provide support for the $ARB token price. It is worth noting that the whale currently holds a total of 5.89 million $ARBs. Overall, the whale's recent investment highlights the potential for volatility in the cryptocurrency market and the impact of large-scale transactions on token prices. Investors are advised to proceed with caution and conduct thorough research before making any investment decisions.
