Top Ethereum Altcoin Explodes 47% in One Week As Whales Send Millions of Tokens to Crypto Exchange

0 5

knife

A couple of crypto whales unloaded millions of Arbitrum (ARB) after the popular Ethereum (ETH) scaling solution witnessed significant gains this week.

Blockchain tracker Lookonchain notes that the largest buyer of Arbitrum on its first day of listing back in March transferred a large stack of nearly 10,000 ARB, worth about $17 million, to top crypto exchange Binance a few days ago.

Image
Source: Lookonchain/Twitter

A separate ARB whale also transferred its entire Arbitrum bag, worth $18 million, to Binance on Friday, according to Lookonchain.

“The whale with 11 million ARB ($18 million) transferred all ARB to Binance…

The buying cost was $13.55 million and the average buying price was ~$1.24.

If he sells at $1.64, he will make a profit of $4.54 million, an ROI (return on investment) of 33%.” 

Image
Source: Lookonchain/Twitter

The 33rd-ranked crypto asset by market cap rallied from a seven-day low of $1.16 to a high of $1.71, marking gains of over 47%. ARB has slightly given up some of its gains and is trading for $1.63 at time of writing.

Arbitrum currently ranks fourth among all chains in terms of total value locked (TVL) with $2.27 billion, behind Ethereum, Tron (TRX) and BNB Smart Chain, according to the decentralized finance tracker DeFi Llama.

The TVL of a blockchain represents the total capital held within its smart contracts. The metric is calculated by multiplying the amount of collateral locked into the network by the current value of the assets.

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox



Check Price Action



Follow us on Twitter, Facebook and Telegram



Surf The Daily Hodl Mix


Check Latest News Headlines

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post Top Ethereum Altcoin Explodes 47% in One Week As Whales Send Millions of Tokens to Crypto Exchange appeared first on The Daily Hodl.

Leave A Reply

Your email address will not be published.

bitcoin
Bitcoin (BTC) $ 50,956.65
ethereum
Ethereum (ETH) $ 3,043.18
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 385.47
solana
Solana (SOL) $ 101.62
staked-ether
Lido Staked Ether (STETH) $ 3,040.24
xrp
XRP (XRP) $ 0.533134
usd-coin
USDC (USDC) $ 0.999126
cardano
Cardano (ADA) $ 0.574983
avalanche-2
Avalanche (AVAX) $ 36.43
tron
TRON (TRX) $ 0.137491
dogecoin
Dogecoin (DOGE) $ 0.084334
chainlink
Chainlink (LINK) $ 18.20
polkadot
Polkadot (DOT) $ 7.63
matic-network
Polygon (MATIC) $ 0.976586
uniswap
Uniswap (UNI) $ 10.62
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 50,983.66
the-open-network
Toncoin (TON) $ 2.11
shiba-inu
Shiba Inu (SHIB) $ 0.000009
internet-computer
Internet Computer (ICP) $ 12.15
bitcoin-cash
Bitcoin Cash (BCH) $ 263.07
litecoin
Litecoin (LTC) $ 69.24
dai
Dai (DAI) $ 0.999672
immutable-x
Immutable (IMX) $ 3.18
filecoin
Filecoin (FIL) $ 7.83
cosmos
Cosmos Hub (ATOM) $ 10.33
near
NEAR Protocol (NEAR) $ 3.74
leo-token
LEO Token (LEO) $ 4.18
ethereum-classic
Ethereum Classic (ETC) $ 26.78
kaspa
Kaspa (KAS) $ 0.161866
bittensor
Bittensor (TAO) $ 579.23
optimism
Optimism (OP) $ 3.69
blockstack
Stacks (STX) $ 2.44
hedera-hashgraph
Hedera (HBAR) $ 0.103812
aptos
Aptos (APT) $ 9.38
vechain
VeChain (VET) $ 0.046575
first-digital-usd
First Digital USD (FDUSD) $ 0.998159
stellar
Stellar (XLM) $ 0.114289
injective-protocol
Injective (INJ) $ 35.06
okb
OKB (OKB) $ 49.86
lido-dao
Lido DAO (LDO) $ 3.35
mantle
Mantle (MNT) $ 0.891358
celestia
Celestia (TIA) $ 16.25
render-token
Render (RNDR) $ 7.15
the-graph
The Graph (GRT) $ 0.286812
crypto-com-chain
Cronos (CRO) $ 0.092576
monero
Monero (XMR) $ 128.11
arbitrum
Arbitrum (ARB) $ 1.82
sei-network
Sei (SEI) $ 0.792414
maker
Maker (MKR) $ 2,046.41
rocket-pool-eth
Rocket Pool ETH (RETH) $ 3,344.99
sui
Sui (SUI) $ 1.58
beam-2
Beam (BEAM) $ 0.031933
thorchain
THORChain (RUNE) $ 5.36
algorand
Algorand (ALGO) $ 0.197861
flare-networks
Flare (FLR) $ 0.045793
mantle-staked-ether
Mantle Staked Ether (METH) $ 3,082.21
elrond-erd-2
MultiversX (EGLD) $ 57.19
quant-network
Quant (QNT) $ 103.91
flow
Flow (FLOW) $ 0.998304
aave
Aave (AAVE) $ 98.73
bitcoin-sv
Bitcoin SV (BSV) $ 73.67
dydx-chain
dYdX (DYDX) $ 3.35
theta-token
Theta Network (THETA) $ 1.38
bitget-token
Bitget Token (BGB) $ 0.980808
starknet
Starknet (STRK) $ 1.88
mina-protocol
Mina Protocol (MINA) $ 1.25
ordinals
ORDI (ORDI) $ 62.91
havven
Synthetix Network (SNX) $ 3.95
true-usd
TrueUSD (TUSD) $ 0.973763
tokenize-xchange
Tokenize Xchange (TKX) $ 15.50
worldcoin-wld
Worldcoin (WLD) $ 8.87
helium
Helium (HNT) $ 8.29
the-sandbox
The Sandbox (SAND) $ 0.519536
fantom
Fantom (FTM) $ 0.412072
chiliz
Chiliz (CHZ) $ 0.130051
apecoin
ApeCoin (APE) $ 1.91
axie-infinity
Axie Infinity (AXS) $ 8.21
gala
GALA (GALA) $ 0.032683
fetch-ai
Fetch.ai (FET) $ 1.06
blur
Blur (BLUR) $ 0.725955
whitebit
WhiteBIT Coin (WBT) $ 7.11
kucoin-shares
KuCoin (KCS) $ 10.60
bittorrent
BitTorrent (BTT) $ 0.000001
dydx
dYdX (ETHDYDX) $ 3.34
cheelee
Cheelee (CHEEL) $ 18.53
arweave
Arweave (AR) $ 15.12
osmosis
Osmosis (OSMO) $ 1.56
tezos
Tezos (XTZ) $ 1.09
sats-ordinals
SATS (Ordinals) (SATS) $ 0.00000045822277
decentraland
Decentraland (MANA) $ 0.519388
frax-ether
Frax Ether (FRXETH) $ 3,054.41
singularitynet
SingularityNET (AGIX) $ 0.731538
woo-network
WOO (WOO) $ 0.500073
akash-network
Akash Network (AKT) $ 3.97
conflux-token
Conflux (CFX) $ 0.23994
dymension
Dymension (DYM) $ 6.12
ronin
Ronin (RON) $ 2.98
eos
EOS (EOS) $ 0.779556
astar
Astar (ASTR) $ 0.158653