4 Arbitrum Whales Buying ARB Tokens ‘Continually:’ Data

According to recent data, four large investors known as “whales” have been consistently purchasing ARB tokens on the Arbitrum network. With the growing popularity of decentralized finance (DeFi), these whales are looking to invest heavily in the promising technology behind ARB. As a result, the demand for ARB tokens has increased, and it is likely to continue in the future. This development highlights the potential for ARB and the Arbitrum network to become major players in the DeFi market.

Arbitrum Tokens’ Whale Activity: Four Whales Constantly Buy Despite Drama

Arbitrum, the long-awaited token, ARB, witnessed a lot of hype during its launch. However, rumors and sell-offs dominated the ecosystem due to a conflict between token holders and the Arbitrum Foundation.

Despite the ongoing drama, Lookonchain, the popular blockchain tracking platform, has identified four whales “continually” buying ARB tokens. Let’s take a look at these whales and their activity:

1. Mechanism Capital’s Andrew Kang bought an additional 1.51 million ARB at $1.23 with nearly $1.85 million of the USDC stablecoin. Kang spent a total of 2.85 million in the stablecoin to buy 2.3 million ARB, with an average buying price of $1.24.

2. Another whale, speculated to be an institutional player, received 5.86 million ARB, worth around $7.15 million, from the centralized exchange Gate.io and currently holds a total of 17.62 million ARB, worth around $21.5 million. This whale has become the largest individual holder of ARB.

3. The third whale purchased 795,381 ARB at a price of $1.26 with one million in USDC stablecoin and currently holds 10.6 million in ARB, worth approximately $12.94 million.

4. The fourth whale received 532,012 ARB, worth around $661,000, and currently holds 4.58M ARB, worth around $5.59 million.

All this fresh whale activity came after Arbitrum Foundation received significant backlash over its governance voting system. This forced the team to unveil two new proposals with several changes, wherein it vowed to hold onto the 700 million ARB tokens left in the Administrative Budget Wallet until the DAO authorizes an appropriate spending plan.

Despite the drama and controversy surrounding the token, these four whales seem to be constantly buying ARB tokens, indicating their faith in the token’s long-term potential.

In conclusion, despite the ongoing drama and controversy, it seems like some investors and whales still have a strong belief in the potential of Arbitrum’s ARB token. Only time will tell how successful their investment will be.

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