4 whale wallets transferred a significant amount of funds to Binance via Arbitrum, a popular Ethereum (ETH) layer-2 scaling solution.
According to on-chain data platform Lookonchain’s post on March 23, more than 4 whale wallets deposited Arbitrum on Binance.
Despite the rise in Bitcoin, ARB didn’t surge during the 20-hour period in which the whales transferred a total of 11.34 million ARB worth $18.5 million to the exchange.
Previously, after a billion-dollar unlocking of ARB, 11 whales moved a total of 34 million ARB worth $58 million to exchanges, which led to a price decline.
Parallel to these transfers, another decline could be expected following the unlocking. At the time of writing, ARB is trading around $1.635 according to CoinGecko.
