- Arbitrum’s price embarked upon a remarkable upward momentum today, May 18, primarily aligning with a whale’s massive ARB accumulation from Binance.
- A whale accumulated massive amounts of ARB, igniting optimism in tandem with the token’s price jump.
- The whale accumulated ARB from Binance, one of the leading CEXs.
Catch up on today’s significant surge in Arbitrum’s price following a whale’s substantial ARB purchase from Binance, sparking market optimism.
Unprecedented Surge in Arbitrum’s Market Value
In an unprecedented development, Arbitrum’s (ARB) price has taken a dramatic upward turn today, May 18, sparking a wave of excitement across the broader crypto market. This sudden surge aligns with a substantial amount of ARB being amassed by a single whale in the past 24 hours, as revealed by blockchain data surfacing across the global crypto horizon.
Details of the Whale’s ARB Acquisition
According to insights from numerous on-chain analytics platforms, whale 0x695 accumulated 4.17 million ARB, worth $4.3 million, from Binance in the past 24 hours. Further, this whale has been recorded trading ARB since July 2023, experiencing considerable losses.
Impact on Arbitrum’s Market Dynamics
As of writing, ARB’s price traded at $1.02, up 1.66% over the past day. Besides, it’s worth noting that the token’s 24-hour lows and highs are $1.00 and $1.07, respectively, underscoring nearly 5% gains witnessed recently.
Conclusion
This significant market movement highlights the impact of large-scale transactions and whale activities on cryptocurrency prices, providing a clear example of how major players can influence market dynamics in the crypto space.
