Two Giant Altcoin Whales Sell Heavily Ahead of Two Big Events Coming Next Week

Ahead of two important ARB events next week, wallet numbers 0x141 and 0xc99 cryptocurrency whales jointly deposited 2.77 million ARB ($5.94 million) to Binance about 8 hours ago. This move reportedly resulted in a realized profit of $3.29 million.

The following two events will occur next week Arbitrum (ARB) altcoin It is estimated that it may affect the price:

• Dencun Update (March 13, 2024): This update is expected to significantly reduce the layer 2 transaction fee.
• Giant Token Unlocking Event (March 16, 2024): A staggering 1.11 billion ARB ($2.38 billion) or 76.6% of the circulating supply will be unlocked.

The 0x141 whale deposited the entire 916,787 ARB ($1.96 million) to Binance at $2,142. This whale had previously withdrawn these ARB tokens from Binance on December 28, 2023 at $1,478 ($1.36 million). If he sells now, the whale will make an estimated profit of $608k (+44.8%) in 2.5 months. This whale is not currently holding any ARBs.

The 0xc99 whale deposited 1.85 million ARB ($3.98 million) into Binance at a price of $2,149. This whale has made significant profits from ARB, with an estimated total profit of $6.62 million:

• Whale withdrew 5.021 million ARB from Binance and OKX on September 25, 2023, at an average price of $0.814 ($4.09 million).
• Whale deposited 2.021 million ARB on Binance and Gate.io on March 5 and 9, 2024 at an average price of $2.134 ($4.31 million), earning $2.67 million (+162%).
• Whale still holds ARB 3 million ($6.39 million) and has made another $3.95 million in unrealized profits.
• ARB price is trading at $2.11 at the time of this writing.

*This is not investment advice.