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On-chain knowledge reveals that crypto whales are snapping up the native asset of a sizzling Ethereum (ETH) layer-2 challenge by the thousands and thousands.
Blockchain-tracking agency Lookonchain says that digital asset supervisor Amber Group despatched thousands and thousands of {dollars} value of Arbitrum (ARB) tokens to crypto exchanges OKX and Binance, the place they may doubtlessly be bought on the open market.
“Two associated addresses of Amber transferred 11.2 million ARB ($15.8 million), out of which, 7.3 million ARB ($10.3 million) was transferred to OKX and Binance and presently holding 4.47 million ARB ($6.3 million).”
Whereas Amber Group diminished its ARB holdings, Lookonchain says a number of crypto whales have been within the means of accumulating ARB. In line with the analytics agency, one whale collected a complete of 4,048,947 ARB value $5.7 million from OKX and Binance throughout the final 48 hours.
A second whale obtained 4,099,517 ARB value $5.78 million from OKX over the identical timeframe. In the meantime, a 3rd crypto whale amassed 1,003,798 ARB value $1.41 million from crypto change Binance.
At time of writing, ARB is buying and selling for $1.34, buying and selling largely sideways over the previous week.
Lookonchain additionally just lately noticed an Ethereum whale that staked almost $100 million value of ETH via a decentralized finance (DeFi) platform.
“A whale staked all 53,024 ETH ($95.5 million) via Abyss Finance…
By way of on-chain knowledge monitoring, we discovered that the ETH of the whale was purchased from Poloniex, Gemini, Bittrex and different exchanges in 2017 and 2018, with a mean shopping for price of ~$368.”
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