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.
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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