An altcoin in the basket of Turks goes to Binance. So what does this move mean? It is also a matter of curiosity where the ARB will move, especially in the middle of the downward wave in the last days. Let’s look at it in detail.
Mobility in Altcoin ARB
In a recent tweet, Lookonchain stated that Andrew Kang pulled all of his altcoin ARB from Radiant Capital. The trader then sent 953k ARB to Binance. It may also be at risk of realizing a loss of $270k. ARB is down 1.27% in the last 24 hours at the time of writing. The price is trading at $0.9972. Blockchain tracking firm Lookonchain reported yesterday that Andrew Kang has repaid a loan at Radiant Capital. He also tweeted that he was pulling all ARB from the cross-chain lending platform. According to the post, he later sold 217,000 altcoins ARB for $210,000 USD Coins (USDC) at $0.97. He then deposited 953 thousand ARBs on Binance.
Lookonchain’s latest tweet about Andrew Kang follows a post from June 2, 2023. In this previous tweet, he stated that blockchain tracking firm Kang used leverage to enter a long-focused ARB position at Radiant Capital. His bet on the altcoin ARB did not go as planned, given that he bought ARB for $1.2 on January 2, 2023, according to on-chain data. Lookonchain states that if it sells its ARB assets now, it will lose $270k.
What about ARB?
At the time of writing, CoinMarketCap stated that the meme coin was trading at $0.9972 after a 1.27% loss in the past 24 hours. Aside from weakening against the dollar, the ARB was also overtaken by the two market leaders Bitcoin (BTC) and Ethereum (ETH) in the last day. ARB is down 2.35% against BTC and 1.84% against the altcoin leader. As a result, 1 ARB was worth 0.00003862 BTC and 0.0005672 ETH.
Over the past 48 hours, the altcoin’s price has dipped below the key support level of $1.0436, where it continues to trade. Technical indicators on ARB’s daily chart showed that its price will close today’s trading session below this mark. The 9-day EMA line is bearish below the 20-day EMA. At the time of writing it was still positioned below the longer EMA line. This indicates that the price of altcoin ARB is in a short-term bearish cycle. It also points out that the price of ARB may continue to decline in the next 24-48 hours. cryptocoin.com Looking at it as a whole, the bearish trend in altcoin ARB also reflects the decline in the overall cryptocurrency market.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.