After the massive unlocking of $ARB tokens worth $2.33 billion, whales have been depositing and withdrawing significant amounts on exchanges. Whales have moved a total of $58 million worth of tokens to exchanges following the unlock, with one whale accumulating $4.78 million within 24 hours. The price of $ARB has dropped by 23% since the unlock, leading to speculation on whether whales are buying the dip.
UPDATE: 11 WHALES DEPOSITED 34M $ARB TO EXCHANGES WORTH $58.14M AFTER ARBITRUM TOKEN UNLOCK
🚨 Big Sell-Off After Arbitrum Token Unlock Whales on #Arbitrum moved $58 million worth of tokens to exchanges after a massive unlock on March 16th. This follows the release of 1.1 billion $ARB tokens ($2.32 billion) to advisors, team members, and investors. https://t.co/Mqk4TFeLdt
After the massive unlocking of $ARB, 11 whales deposited a total of 34M $ARB($58M) into the exchanges. https://t.co/Lcr5S3wE3t https://t.co/jTBl5f3kQ5