ARB token experienced a significant 40% price appreciation over the past week, fueled by market speculation around a potential partnership between Robinhood and Arbitrum to launch a blockchain platform for European investors trading US equities. According to Lookonchain data from June 30, this surge reflects heightened investor interest and optimism in Arbitrumās ecosystem expansion. Concurrently, Defillama reports a 25% weekly increase in active addresses, reaching 41,840 within 24 hours, indicating growing on-chain engagement.
Recent on-chain movements reveal substantial institutional activity: a multisig wallet linked to Gelato Network transferred 20 million ARB tokens to market maker GSR, which subsequently increased its trading volume. GSR also moved 9.48 million ARB to Binance, enhancing liquidity. Anchorage Digitalās custody wallet shifted 50.1 million ARB to Wintermuteās hot wallet, while a wallet associated with Monetalis accumulated 42.19 million ARB, now ranking as the 13th largest holder with 77.12 million tokens.
Despite the price rally, data suggests profit-taking by large holders. Wallet 0xC4Db has deposited over 63 million ARB tokens to exchanges Bybit and Binance since mid-June. Arkham Intelligence indicates these wallets may be connected to major investment firms such as Paradigm Capital, Teneo, or DeFiance Capital. This selling pressure amidst rising prices underscores a strategic rebalancing by institutional investors amid improved market liquidity.