- Whale interest in ARB declined even as its price remained stable.
- ARB’s network growth and velocity fell as well.
Despite the Arbitrum [ARB] network making significant progress over the last year, many addresses have started to lose faith in the network’s native token, ARB. More specifically, whales were starting to lose interest in the token.
Whales move away
According to Lookonchain, a massive whale sold all 14 million ARB tokens, valued at $14.84 million, around $1.05 since the 16th of November. Back in April, the same whale withdrew 22.55 million ARB tokens, worth $27.76 million at approximately $1.23, from Binance [BNB] and Gateio.
Additionally, in September, they deposited 8.44 million ARB tokens, equivalent to $6.92 million, to Binance, at a rate of $0.82. The overall loss incurred by the whale is estimated at $6 million.
The giant whale has dumped all 14M $ARB($14.84M) at ~$1.05 since Nov 16.
The whale withdrew 22.55M $ARB($27.76M) at ~$1.23 from #Binance and #Gateio in April.
And also deposited 8.44M $ARB($6.92M) to
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