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CryptoIntelligence 2024-03-27 18:07:00

Arbitrum Whales Move Millions in Tokens to Exchanges Amid Market Speculation, Triggering Mixed Community Reactions

Arbitrum Whales Move Millions in Tokens to Exchanges Amid Market Speculation, Triggering Mixed Community Reactions

In March, a significant movement of Arbitrum‘s ARB tokens into exchanges was observed, particularly following the release of a considerable volume of vested tokens. Lookonchain, a blockchain data platform, reported on March 23 that four wallets had moved ARB tokens to exchanges, subsequent to a $2.32 billion token unlock on March 16. Specifically, 11.34 million ARB tokens, valued at $18.5 million, were deposited into Binance across four transactions. The crypto community has been divided over these transactions. One member did not see it as a negative indicator, while another expressed skepticism about ARB’s potential to appreciate. This followed a previous

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