Based on onchain data, two major altcoin whales have made significant transactions ahead of upcoming events next week.
Before two major events related to ARB taking place this week, the cryptocurrency whales with wallet addresses 0x141 and 0xc99 together sent 2.77 million ARB (5.94 million USD) to Binance about 8 hours ago.
This move is believed to have brought in 3.29 million USD in profit.
It is predicted that the following two events may impact the price of Arbitrum (ARB) next week:
- Dencun Update (March 13, 2024): This update is expected to significantly reduce layer 2 transaction fees.
- Giant token unlock event (March 16, 2024): An astonishing 1.11 billion ARB or 76.6% of the circulating supply will be unlocked.
The 0x141 whale sent a total of 916,787 ARB (1.96 million USD) to Binance at a price of 2.142 USD.
This whale had previously withdrawn these ARB tokens from Binance on December 28, 2023, at a price of 1.478 USD (1.36 million USD). If sold now, the whale would make an estimated profit of 608,000 USD (+44.8%) after 2.5 months. This whale currently does not hold any ARB.
- The whale withdrew 5.021 million ARB from Binance and OKX on September 25, 2023, at an average price of 0.814 USD (4.09 million USD).
- The whale sent 2.021 million ARB on Binance and Gate.io on March 5 and 9, 2024, at an average price of 2.134 USD (4.31 million USD), making 2.67 million USD (+162%).
- The whale still holds 3 million ARB (6.39 million USD) and has an unrealized profit of 3.95 million USD.
- The price of ARB is trading at 2.11 USD at the time of writing this article.
