4 Arbitrum whales buy arb-token continuously: data

4 Arbitrum whales buy arb-token continuously: data

After the much pompous start of the long-awaited Arbitrum token-Arb-dominated rumors and sales the ecosystem due to a conflict between token owners and the Arbitrum Foundation.

The popular blockchain tracking platform Lookonchain has identified four whales despite the continued drama that "constantly" buy.

• Andrew Kang from Mechanism Capital is one of the four whales
• kang spent a total of 2.85 million in stablecoin to buy 2.3 million ARB, with an average purchase price of $ 1.24
• Another whale, which is also speculated as an institutional player, received $ 5.86 million, worth around $ 7.15 million from the centralized Gate.io Stock Exchange and currently holds a total of 17.62 million AR value of around $ 21.5 million. The whale has become the largest individual owner of Arb.
• The third again bought 795,381 ARM with a million USDC stable at a price of $ 1.26 and currently holds 10.6 million Arb (worth around $ 12.94 million).
• The fourth whale, on the other hand, again received 532,012 Arb (worth around $ 661,000). It currently holds 4.58 million Arb (worth around $ 5.59 million).
• The new whale activity came after the Arbitrum Foundation had received considerable counter-reactions on its governance system.
• This forced the team to present two new proposals with several changes in which it promised to record the 700 million Arb-tokens, which remain in the wallet of the administrative budget until the DAO approves a corresponding expenditure plan.