In the world of cryptocurrencies, the various tokens held by investors often change rapidly, which can reveal a lot about the current state of the market. Recently, Lookonchain, a popular blockchain platform, pointed out that investment firm Amber has sold an altcoin project that has attracted interest in Turkey and around the world. Here are the details…
Investment firm sells altcoins
Lookonchain tweeted some interesting information about the owners of the Arbitrum (ARB) token. According to Lookonchain, cryptocoin.com As we reported, Amber, a cryptocurrency whale and investment firm, has reduced most of its ARB holdings. At the same time, three other whales are accumulating ARBs, indicating a potential uptrend for the token. However, the largest buyer of ARB continued to hold assets without selling any ARBs.
Further information provided by Lookonchain reveals that Amber’s two respective addresses transferred 11.2 million ARB (equivalent to $15.8 million) from their wallets, and 7.3 million ARBs ($10.3 million) were transferred to two popular cryptocurrency exchanges, OKX and Binance. The remaining 4.47 million ARB ($6.3 million) is still held by Amber.
There are also whales that buy ARBs
Meanwhile, three addresses identified as whales by Lookonchain are receiving large amounts of ARBs from various exchanges. The whale with the address starting with “0xe04d” received 2.18 million ARB ($3.08 million) from OKX the day before. Then, about 13 hours ago, it received 1.86 million ARB ($2.62 million) from both OKX and Binance.
The whale “0xadf5” performed a similar transfer pattern. It took 2.28 million ARB ($3.22 million) from OKX the day before, and then added 1.81 million ARB ($2.55 million) again from OKX 13 hours ago. Finally, Whale “0xa252” bought 334,799 ARB ($472,000) from Binance the day before, and then added to his bag the 668,999 ARB ($943,000) he had received from Binance 13 hours earlier.
The biggest whale didn’t move its tokens
Despite these massive moves in ARB assets, the token’s largest purchaser still holds 9.94 million ARBs ($14 million) and has not transferred any ARBs from his wallet. The movements of these whales and large investors in the ARB market can be an indicator of market trends and sentiment. According to some, Amber is reducing their holdings, while three other whales are accumulating ARBs, indicating that there may be a bullish trend for the token in the near future. It is not yet clear whether this trend will continue and what impact it may have on the overall cryptocurrency market.
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