Arbitrum Foundation Transfers 10M ARB to Coinbase Prime as 350M ARB Hits Exchange Since July 2023

On-chain data firm Yujin Monitoring reports that a multi-signature wallet affiliated with the Arbitrum Foundation transferred 10 million ARB tokens (about $4.99 million) to Coinbase Prime nine hours ago. The address participates in a monthly vesting schedule that unlocks roughly 15 million ARB, of which approximately 10 million have routinely been routed to the trading platform following claims. According to chain records, the wallet has been unlocking tokens since July 2023 and has released 414 million ARB to date, with 350 million subsequently moved to Coinbase Prime. Based on transfer-time pricing, the cumulative value of those movements is reported at $318 million, reflecting an average price near $0.91 per ARB.