ARB Token Market Trends: Amber Reduces Holdings While Three Other Whales Accumulate
In the world of cryptocurrency, there are often rapid changes in the holdings of various tokens by investors, which can indicate a great deal about the current state of the market. Recently, Lookonchain, a popular blockchain analytics platform, tweeted some interesting information about the holders of the ARB token.
According to Lookonchain, the cryptocurrency whale and investment firm, Amber, has reduced most of its ARB holdings. At the same time, three other whales have been accumulating ARB, indicating a potential bullish trend for the token. The largest buyer of ARB, however, has continued to hold onto its holdings without transferring any ARB out.
Further information provided by Lookonchain reveals that two related addresses of Amber transferred 11.2 million ARB (equivalent to $15.8 million) out of their wallets, with 7.3 million ARB ($10.3 million) being transferred to OKX and Binance, two popular cryptocurrency exchanges. The remaining 4.47 million ARB ($6.3 million) is still being held by Amber.
Meanwhile, the three whales identified by Lookonchain have been receiving large amounts of ARB from various exchanges. Whale “0xe04d” received 2.18 million ARB ($3.08 million) from OKX one day ago and then received 1.86 million ARB ($2.62 million) from both OKX and Binance 10 hours ago.
Whale “0xadf5” received a similar pattern of transfers, receiving 2.28 million ARB ($3.22 million) from OKX one day ago and then receiving 1.81 million ARB ($2.55 million) from OKX again 10 hours ago. Lastly, Whale “0xa252” received 334,799 ARB ($472,000) from Binance one day ago and then received 668,999 ARB ($943,000) from Binance again 10 hours ago.
2/ 2 related addresses of Amber transferred 11.2M $ARB ($15.8M) out, of which 7.3M $ARB ($10.3M) was transferred to #OKX and #Binance.
And currently holding 4.47M $ARB ($6.3M).https://t.co/h01Z9OeFw0https://t.co/jFBmTJyz5s pic.twitter.com/avJIbxwPBq
— Lookonchain (@lookonchain) March 31, 2023
Despite these large movements in ARB holdings, the largest buyer of the token is still holding 9.94 million $ARB ($14 million) and has not transferred any ARB out of their wallet.
The movements of these whales and institutions in the ARB market can be an indication of market trends and sentiment. While Amber has reduced its holdings, the fact that three other whales have been accumulating ARB suggests that there may be a bullish trend for the token in the near future. It remains to be seen whether this trend will continue, and what impact it may have on the overall cryptocurrency market.
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