According to new reports, professional investors known as smart money have started selling in an altcoin that Turkish investors are closely following.
An altcoin whale named TRIDENT is emptying its wallet
According to data provided by Lookonchain, a major crypto investor is pouring 131,325 ARBs he earned at the Arbitrum airdrop event. In the airdrop, which took place on March 16, ARB worth $ 118 million was distributed to DAO addresses.
The data shows that this whale, named TRIDENT, is holding ARBs at three different addresses. Whale recently bought profits using these three addresses at a price of 1.31. He earned $172,000 at the end of the trades.
cryptocoin.com As we reported, some analysts suggest that Arbitrum will surpass Aptos and XRP by market cap. In another development that will have a direct impact on price, the distribution of 10 billion tokens to support DAOs begins.
Arbitrum starts token distribution to ecosystem DAOs
Arbitrum announced that it has started distributing ARB tokens to eligible DAOs in its ecosystem. Previously, 1.13% of the 10 billion token supply was designated for qualified projects.
Currently running on Ethereum, Arbitrum has announced that it has started the distribution of management tokens to eligible DAOs within its ecosystem.
The Arbitrum team had previously allocated 1.13 percent of the total supply of 10 billion tokens to qualified projects. This share of DAOs is considerably lower than the 11.6% supply airdropped to Arbitrum users in March.
Arbitrum announced on Twitter that it is giving its first batch of tokens to DAOs, which confirmed they had received test transactions. Meanwhile, on-chain data shows that the foundation transferred a significant amount of ARB tokens to 125 DAO addresses today.
Arbitrum DAOs start collecting rewards
Arbitrum promotes activities in the network by awarding management tokens of different projects. These tokens can be added to their treasury for the purposes determined by the communities. It can also be used in polls.
Projects that have received tokens include popular names such as GMX, TreasureDAO, SushiSwap, Uniswap, and Aave. Among other projects;
- Hop Protocol
- Radiant Capital
- balancer
- Gains Network
- synapse
- MakerDAO
- There are altcoins such as Vesta, Curve, Layer Zero, 1inch, Swapr.
However, the Arbitrum Foundation ran into a problem with its own DAO. The proposal to transfer 750 million tokens to the foundation was rejected as 50 million tokens were spent improperly. However, the community has agreed to transfer all 750 million ARB tokens to the foundation in a subsequent proposal, AIP 1.1. He decided to use them in special grants for the administrative budget.
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