Lookonchain, a cryptocurrency analysis platform, has observed increased whale activity in certain altcoins recently.
Analysts reported that a cryptocurrency whale purchased $4.3 million worth of Arbitrum (ARB) tokens hours ago at an average price of $1.03. This whale has been actively trading Arbitrum since July 18, 2023.
The data reveals that the whale wallet has acquired a total of 39 million ARB tokens at an average price of $1.25, amounting to $49 million in expenditure. However, the whale has sold 37.5 million ARB tokens on the Arbitrum market at an average price of $1.20, resulting in total sales of $44.9 million.
As a result, the whale has incurred a loss of over $2 million from ARB trading.
Currently, the whale holds 5.98 million ARB tokens valued at $6.15 million. At the time of reporting, the ARB token is trading at $1.03.
Arbitrum reached its all-time high of $2.40 in January 2024 but is currently trading at a level 57% lower than its peak price.
May 2024, Cryptoniteuae
