A notable whale displayed an unwavering confidence in Arbitrum (ARB) while enduring a loss, lately executing a large move. This whale withdrew 1.15 million ARB (valued at $952,000) from Binance over the past two days. Initially, the whale made a bullish move on July 23 involving Aave, however, as the ARB price weakened, they ultimately had to sell the asset at a loss to settle debts on September 11th. Their further efforts amounted to having 17.53 million ARB (equivalent to $20.87 million) withdrawn from Binance at a mean cost of $1.19 each, and transferring 11.13 million back into Binance at an average deposit price of $0.91.
This strategy cost dearly, with the whale estimated to have incurred a further loss of about $3 million, leaving them with a current symbolic count of 7.55 million ARB priced at $6.25 million.� Looking at the bigger picture, Arbitrum is ascendant and taking lead in Layer-2 blockchain technology market, reaching its Total Value Locked (TVL) to $5.6 billion. To live up to this challenge, in the last few days there’s been an outcry of activity in the market with whales behind the transfer of more than 10 million ARB tokens (valued of approx. $8 million), all towards Uniswap.
This determined effective show of resilience in the face of Acquisition Storm is resulting in Furthermoreing Arbitrum’s standing firm within the Decentralized Finances (DeFi) landscape.
