- Whales continued to buy ARB despite making a loss.
- Price movement remained steady. Activity on proposals remained high.
Arbitrum [ARB] was one of the most successful layer 2 solutions in 2023. Despite the protocol showing positive growth over the last year, the ARB token saw both ups and downs in its movement.
Realistic or not, here’s ARB’s market cap in BTC terms
Whales stay put
As per lookonchain’s information, a large Ethereum [ETH] holder previously lost 456 ETH, worth $1.3 million, trading ARB.
However, recently, the same whale decided to reinvest by spending 1,433 ETH, valued at $2.62 million, to purchase 2.51 million ARB tokens priced at $1.04, just 7 hours ago.
Despite losing 456 $ETH ($1.3M) on $ARB before, the whale spent 1,433 $ETH ($2.62M) to buy 2.51M $ARB at $1.04 again 7 hours ago.https://t.co/GMrR6pm6x9 pic.twitter.com/P91mrLGwQ7
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