{"id":23372,"date":"2023-09-11T19:41:47","date_gmt":"2023-09-11T19:41:47","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/arbitrum-price-dips-further-as-whales-dispose-arb-tokens-in-millions\/"},"modified":"2023-09-11T19:41:47","modified_gmt":"2023-09-11T19:41:47","slug":"arbitrum-price-dips-further-as-whales-dispose-arb-tokens-in-millions","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/arbitrum-price-dips-further-as-whales-dispose-arb-tokens-in-millions\/","title":{"rendered":"Arbitrum price dips further as whales dispose ARB tokens in millions"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/09\/1694459609099-a5f7ed8e-54c5-40fb-bfb8-5201836a8285-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/09\/1694459609099-a5f7ed8e-54c5-40fb-bfb8-5201836a8285-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/09\/1694459609099-a5f7ed8e-54c5-40fb-bfb8-5201836a8285-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/09\/1694459609099-a5f7ed8e-54c5-40fb-bfb8-5201836a8285-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul class=\"decimal_type\">\n<li>At press time, Arbitrum (ARB) was trading at $0.7665, after dropping 8.60% in a day.<\/li>\n<li>Three whales have sold a combined 10.2 million ARB tokens.<\/li>\n<li>Arbitrum, however still accounts for 55% of Ethereum\u2019s L2 ecosystem.<\/li>\n<\/ul>\n<p>In the past month, the Arbitrum (ARB) token has experienced a significant decline in value, losing over 33% of its price, prompting at least three major ARB whales to consider selling their holdings. Among these whales, one still possesses a substantial stake in ARB tokens for potential sale.<\/p>\n<p>Data from Lookonchain revealed an intriguing pattern: Despite Arbitrum\u2019s struggles to regain value, a particular whale continued to accumulate the token over the course of a week. This whale invested 2,000 ETH, equivalent to over $3.27 million, to acquire 3.64 million ARB tokens at an average price of $0.9, starting from September 3, 2023. In the previous month, this same whale had spent 800 ETH, equivalent to $1.47 million, to acquire 1.27 million ARB tokens.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">A whale is buying <a href=\"https:\/\/twitter.com\/search?q=%24ARB&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ARB<\/a>!<\/p>\n<p>The whale spent 2,000 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a> ($3.27M) to buy 3.64M <a href=\"https:\/\/twitter.com\/search?q=%24ARB&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ARB<\/a> at an average price of $0.9 since Sept 3.<\/p>\n<p>The whale spent 800 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a>($1.47M) to buy 1.27M <a href=\"https:\/\/twitter.com\/search?q=%24ARB&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ARB<\/a> on Aug 13 but soon dumped on <a href=\"https:\/\/twitter.com\/hashtag\/Binance?src=hash&amp;ref_src=twsrc%5Etfw\">#Binance<\/a> at a loss of ~$36K on Aug 16.<a href=\"https:\/\/t.co\/0uohrf6PI3\">https:\/\/t.co\/0uohrf6PI3<\/a> <a href=\"https:\/\/t.co\/R6Zdjbtcje\">pic.twitter.com\/R6Zdjbtcje<\/a><\/p>\n<p>\u2014 Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1700440200219136037?ref_src=twsrc%5Etfw\">September 9, 2023<\/a><\/p>\n<\/blockquote>\n<h2>Whales on an Arbitrum (ARB) selling spree<\/h2>\n<p>On September 11, 2023, three prominent Arbitrum (ARB) whales took action by transferring a total of more than 10.2 million ARB tokens to <a href=\"https:\/\/coinjournal.net\/exchanges\/binance\/\">Binance<\/a>, the world\u2019s largest cryptocurrency exchange.<\/p>\n<p>Chinese cryptocurrency journalist Colin Wu disclosed that the first whale had transferred 3.8 million ARB tokens to Binance and sold them at a rate of $0.77 per token, resulting in a profit of 1,812 Ethers (ETH). Remarkably, this whale still retains ownership of 13.7 million ARB tokens available for sale.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Today, 3 whales transferred 10.23 million ARB (valued at US$8 million) to Binance, including 0xe972 transferred 3.8 million ARB to Binance and sold it at $0.77 for 1,812 ETH. It still holds 13.78 million ARB; vladilena2.eth transferred 3.63 million ARB to Binance, the price was\u2026<\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1701245448617435447?ref_src=twsrc%5Etfw\">September 11, 2023<\/a><\/p>\n<\/blockquote>\n<p>Another prominent whale, known as vladilena2.eth, sold 3.63 million ARB tokens at a rate of $0.83 per token. Notably, this wallet also possesses a portfolio exceeding $14 million in various altcoins and recently received 2,800 Staked Ethers (stETH) from Lido Finance (LDO) within the last 24 hours.<\/p>\n<p>The third whale decided to move 2.8 million ARB tokens to Binance when the token\u2019s price was at $0.79. Given that the ARB token\u2019s price has dipped below $0.77 as of the present moment, all three whales have the opportunity to reclaim their investments with profit.<\/p>\n<p>Despite the recent downturn in the ARB token\u2019s value, Arbitrum (ARB) continues to maintain its position as the dominant Layer 2 (L2) solution for <a href=\"https:\/\/coinjournal.net\/ethereum\/what-is-ethereum\/\">Ethereum (ETH)<\/a>. It boasts a total value locked (TVL) of $5 billion, accounting for 55% of Ethereum\u2019s L2 ecosystem. Today, on September 11, 2023, the token reached an all-time low on major spot exchanges, reflecting the challenging market conditions.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/arbitrum-price-dips-further-as-whales-dispose-arb-tokens-in-millions\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) At press time, Arbitrum (ARB) was trading at $0.7665, after dropping 8.60% in a day. Three whales have sold a combined 10.2 million ARB tokens. Arbitrum, however still accounts for 55% of Ethereum\u2019s L2 ecosystem. In the past month, the Arbitrum (ARB) token [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":23373,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23372"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=23372"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23372\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/23373"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=23372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=23372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=23372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}