Giant Whale Sold All of Its Rapidly Recovering Arbitrums (ARB) and Bought This Altcoin Instead!

Yesterday’s rumors that spot Bitcoin ETFs would be rejected led to sharp declines in Bitcoin and altcoins.

At this point, while Bitcoin fell below $ 41,000, Arbitrum, which attracted attention with its recent rise, also experienced a sharp decline.

Arbitrum, which dropped to $1.46, then recovered rapidly and rose above $2.

Turning this rise into an opportunity, the whale sold 1.08 million ARB at $1.94.

According to Lookonchain’s post, the giant whale sold 1.08 million ARB after the rise and bought 947 Ethereum (ETH) worth $2.09 million in return.

This whale made its ARBs in two pieces. Accordingly, he made his first purchase by purchasing 1.79 million ARB at $1.34 for 1,337 ETH (worth $2.4 million).

He made his second purchase on May 1, buying 710 thousand ARB at $1.33 in exchange for 514 ETH (worth $943 thousand).

“After the ARB price increased, a trader sold all 1.08 million ARB for 947 Ethereum (valued at $2.09 million).

This whale spent 1,337 ETH (worth $2.4 million) to buy 1.79 million ARB at $1.34 on launch day.

He made his second purchase on May 1 and bought 710 thousand ARB for 514 ETH (worth $943 thousand) at $1.33.

Since the ETH price also increased during this period, the whale earned 124 ETH (worth $278,000) from this ARB trade.”

ARB continues to trade at $1.82 at the time of writing.

*This is not investment advice.

Source