In the wake of Arbitrum's recent token unlock, which saw 1.1 billion tokens, valued at over $2 billion, released to its team, advisers, and investors on March 16, a notable trend has emerged within the crypto market. Whales holding Arbitrum (ARB) tokens have begun transferring their digital assets to various crypto exchanges.
Blockchain analysis firm Lookonchain highlighted this development on March 18, noting that at least 11 whales had deposited their tokens to exchanges following the unlock. Cumulatively, these whales moved 34 million tokens, with a total value approaching $58 million at the time of reporting.
