Before the recent surge witnessed in Arbitrum, the transactions of two significant cryptocurrency whales garnered attention.

Here are the details:

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The source behind the sudden rally that propelled Arbitrum ($ARB ) from $1.15 to $1.44, reflecting a surge of about 25%, is under scrutiny.

Following the climb to $1.44, the price of ARB faced a decline and is currently trading at $1.34, still notably higher than its initial level.

It was revealed that two entities, Amber Group and a substantial whale identified as 0x0db, had amassed ARB prior to this rapid price increase.

Whale 0x0db acquired 2.91 million ARB from OKX, amounting to $3.53 million at a rate of $1.21 per ARB.

This isn't the first time this whale has engaged in ARB trades on OKX. Previously, the whale generated a profit of $913,000 (+42%) from trading 1.85 million ARB between April 10-15, 2023.

Presently, the 0x0db whale holds 4.15 million ARB valued at $5.62 million, with a floating gain of $924,000 (+19.5%).

Amber Group, operating under the address 0x011, has amassed 6.41 million ARB worth $7.58 million from Binance since November 17, at an average price of $1.18.

Notably, the latest ARB acquisition by the company involved withdrawing 151 million ARB ($2.07 million) from the cryptocurrency exchange Binance at a rate of $1,372 on December 22, 2023, at 21:45.

The company's accrued earnings from ARB are at $1.07 million (+14.2%).

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