Over $1.9 Million Invested into Arbitrum (ARB) By Two Whales in Recent Transactions

In the world of cryptocurrency, the movements of “whales” – individuals or entities with substantial holdings – often dictate the market trends. Recently, these whales have been making waves in the $ARB market, with significant purchases indicating a bullish sentiment.

Eight hours ago, a whale identified by the address “0xb28f” invested 200 Ethereum (ETH), equivalent to $375,000, to acquire 321,934 $ARB tokens at a rate of $1.16 each. This is not the first time this particular whale has shown interest in $ARB. On June 10, they spent 300 ETH, or $525,000, to purchase 538,558 $ARB tokens at $0.98 each.

Another whale, known as “0x79cc”, also made a substantial investment in $ARB. They spent 1,058,665 USDC (a stablecoin pegged to the US dollar) to buy 937,176 $ARB tokens at $1.13 each, approximately 16 hours ago.

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These transactions can be verified on the blockchain explorer Arbiscan, using the provided address: Arbiscan Link

Interestingly, the price of $ARB has shown a steady increase since June 10, the date of the first mentioned whale purchase. The price rose from $0.98 on June 10 to $1.16 eight hours ago, representing an 18% increase. The price has since continued to rise, reaching $1.25 as of June 26, marking a total increase of 27% since June 10.

These whale movements and the subsequent price increase suggest a growing confidence in $ARB’s potential. However, as always in the volatile world of cryptocurrencies, investors should exercise caution and conduct thorough research before making any investment decisions.

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Philipp Traugott
Philipp Traugott

Phil Traugott is a staff writer at CaptainAltcoin. As a trained marketing specialist for copywriting and creative campaigns, he has been advising top companies on the following topics: online marketing, SEO and software branding for more than 10 years. The topic of crypto currencies is becoming increasingly important for companies and investors and he found it very alluring and fitting for his skillset which prompted him to pivot his career towards blockchain and cryptocurrencies.

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