A major player in the cryptocurrency market is accumulating a Binance altcoin that has been the subject of widespread criticism. Will Arbitrum $ARB satisfy cryptocurrency investors?
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Arbitrum ARB, one of the largest projects in the cryptocurrency industry, continues to face challenges. Despite having a large user base, ARB has not seen a significant increase in value. Many investors have expressed their dissatisfaction with the situation. Currently, ARB is trading at $1, representing a 35% increase from its historical low.
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While some investors are distancing themselves from ARB, certain major entities in the cryptocurrency market continue to make significant purchases of the coin. According to The Data Nerd, a renowned on-chain data provider, 12 hours ago, a whale identified as 0x695 withdrew 2.85 million ARBs (valued at $2.94 million) from Binance. Additionally, this whale holds a total of 3.13 million ARBs (valued at $3.22 million) on platforms such as AAVE and Compound.
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Historically, this whale acquired a total of 39 million ARBs at an average price of $1.25, resulting in a loss of over $2 million by purchasing 37.5 million ARBs at an average price of $1.2. Currently, this investor holds a total of 5.98 million ARBs, valued at $6.16 million, in their portfolio. Although not one of the largest whales in Arbitrum, this investor continues to support ARB with substantial acquisitions when necessary.
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