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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Show more +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.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com
