Major $ARB whales dump 3.73M tokens, suffering huge losses
According to data monitored by on-chain observer BitcoinEmber, the first whale address"0x1dd9" sold 2.03 million ARB, with an average selling price of $1.14 USDT, suffering a loss of approximately $160,000. The address still holds 500,000 ARB.
The second whale address,"0xca71," unloaded 1.7 million ARB at an average selling price of $1.16 USDT, leading to a loss of about $270,000. Currently, the address only has 50,000 ARB in SushiSwap's pair liquidity. This sudden move follows recent controversy surrounding the Arbitrum Foundation's token allocation process, which led to a 6% drop in the price of the ARB token.
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