Key Points:

• Arbitrum (ARB) stands strong in the turbulent DeFi market, with whales making strategic moves.
• A notable whale withdrew and re-deposited millions of ARB on Binance despite facing losses.
• Arbitrum’s prominence in the layer-2 blockchain space persists, driven by a $5.6 billion Total Value Locked (TVL) and recent price fluctuations tied to whale activity.

In the difficult context of the crypto market in 2023, Arbitrum defies DeFi turbulence. On-chain data reveals that despite challenging conditions, whales continue to exhibit strong support for this token.

Whale Strategy Unveiled: ARB’s Resilience in DeFi Storm

According to Lookonchain data, a notable whale, while enduring a loss on ARB, has displayed unwavering confidence in the asset. Over the past two days, this whale executed a significant move, withdrawing 1.15 million ARB (equivalent to $952,000) from Binance.

This whale initially took a bullish stance on ARB through Aave on July 23. However, as the ARB price dwindled, the whale had to sell ARB at a loss to settle debts on September 11.

The whale’s actions included withdrawing 17.53 million ARB (valued at $20.87 million) from Binance at an average withdrawal price of $1.19. Subsequently, they deposited 11.13 million ARB (amounting to $10.17 million) back into Binance at an average deposit price of $0.91. This strategic move incurred a loss exceeding approximately $3 million, leaving the whale with a current holding of 7.55 million ARB (equivalent to $6.25 million).

Arbitrum’s Rise and Whales’ Gambit: A Tale of DeFi Fortitude

Arbitrum is rapidly asserting itself as a dominant player in the ever-evolving realm of layer-2 blockchain technology. This ascent is underscored by Arbitrum’s impressive Total Value Locked (TVL) of $5.6 billion, outpacing competitors like Optimism, Mantle, and ImmutableX.

The recent dip in ARB’s price can be attributed to a flurry of market activity by ARB whales in the last few days. Notably, on September 11, 2023, three whales collectively transferred over 10 million ARB tokens, amounting to roughly $8 million, to Binance.

Arbitrum’s resilience and strategic moves by its supporters continue to shape its position in the DeFi landscape, defying market turbulence.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

ARB

Arbitrum

price

Whale

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

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Uncategorized

Arbitrum Defies DeFi Turbulence: Whales Remain Optimistic Amidst Market Swings

Key Points:

• Arbitrum (ARB) stands strong in the turbulent DeFi market, with whales making strategic moves.
• A notable whale withdrew and re-deposited millions of ARB on Binance despite facing losses.
• Arbitrum’s prominence in the layer-2 blockchain space persists, driven by a $5.6 billion Total Value Locked (TVL) and recent price fluctuations tied to whale activity.

In the difficult context of the crypto market in 2023, Arbitrum defies DeFi turbulence. On-chain data reveals that despite challenging conditions, whales continue to exhibit strong support for this token.

Whale Strategy Unveiled: ARB’s Resilience in DeFi Storm

According to Lookonchain data, a notable whale, while enduring a loss on ARB, has displayed unwavering confidence in the asset. Over the past two days, this whale executed a significant move, withdrawing 1.15 million ARB (equivalent to $952,000) from Binance.

This whale initially took a bullish stance on ARB through Aave on July 23. However, as the ARB price dwindled, the whale had to sell ARB at a loss to settle debts on September 11.

The whale’s actions included withdrawing 17.53 million ARB (valued at $20.87 million) from Binance at an average withdrawal price of $1.19. Subsequently, they deposited 11.13 million ARB (amounting to $10.17 million) back into Binance at an average deposit price of $0.91. This strategic move incurred a loss exceeding approximately $3 million, leaving the whale with a current holding of 7.55 million ARB (equivalent to $6.25 million).

Arbitrum’s Rise and Whales’ Gambit: A Tale of DeFi Fortitude

Arbitrum is rapidly asserting itself as a dominant player in the ever-evolving realm of layer-2 blockchain technology. This ascent is underscored by Arbitrum’s impressive Total Value Locked (TVL) of $5.6 billion, outpacing competitors like Optimism, Mantle, and ImmutableX.

The recent dip in ARB’s price can be attributed to a flurry of market activity by ARB whales in the last few days. Notably, on September 11, 2023, three whales collectively transferred over 10 million ARB tokens, amounting to roughly $8 million, to Binance.

Arbitrum’s resilience and strategic moves by its supporters continue to shape its position in the DeFi landscape, defying market turbulence.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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