ARB Whale Purchases 1.27 Million Tokens: On-chain Data

• Over the past two days, a whale bought ARB worth millions, according to Lookonchain.
• ARB was trading at $1.14 at press time after its price dropped 1.72% over the past day of trading.
• A medium-term bearish technical flag was triggered on ARB’s daily chart.

A whale has been lining its pockets with Arbitrum (ARB) recently. According to a Twitter post shared by the on-chain analytics platform, Lookonchain, a whale spent 800 Ethereum (ETH), worth about $1.47 million, over the past two days to buy 1.27 million ARB. When the cryptocurrency was bought, it was trading hands at $1.16.

Since then, CoinMarketCap indicated that ARB’s price declined by 1.72% over the past day of trading. This meant that ARB was trading at $1.14 at press time after it was able to set a 24-hour high of $1.17.

Along with ARB’s price slip, it also weakened against market leader Bitcoin (BTC) by more than 2% throughout the past day. Meanwhile, the cryptocurrency’s intraday volume of $121.779,342 meant that i…

The post ARB Whale Purchases 1.27 Million Tokens: On-chain Data appeared first on Coin Edition.