🚨 Important news for coin $ARB
Binance has submitted a formal proposal to the Arbitrum DAO to recover 8,426 $ETH and 74.56 million ARB, funds that were frozen after the recent security breach.
The proposal requires approval from ARB holders through several rounds of voting and governance, and the process could take around 49 days.
Notably, Binance wants to use the recovered funds to compensate for losses and replenish reserves, without requesting new funds from the Arbitrum treasury.
Technically, I see the coin as bullish and getting ready for a strong upward move. With this news, we may see liquidity flow into it over the coming days.
I think we may see a drop and a liquidity sweep below 0.1480, which could present a golden buying opportunity, but I can’t guarantee whether it will drop that low anytime soon.
Binance has submitted a formal proposal to the Arbitrum DAO to recover 8,426 $ETH and 74.56 million ARB, funds that were frozen after the recent security breach.
The proposal requires approval from ARB holders through several rounds of voting and governance, and the process could take around 49 days.
Notably, Binance wants to use the recovered funds to compensate for losses and replenish reserves, without requesting new funds from the Arbitrum treasury.
Technically, I see the coin as bullish and getting ready for a strong upward move. With this news, we may see liquidity flow into it over the coming days.
I think we may see a drop and a liquidity sweep below 0.1480, which could present a golden buying opportunity, but I can’t guarantee whether it will drop that low anytime soon.
