Crypto:
30604
Bitcoin:
$62.484
% 3.95
BTC Dominance:
%53.6
% 0.35
Market Cap:
$2.21 T
% 1.97
Fear & Greed:
33 / 100
Bitcoin:
$ 62.484
BTC Dominance:
% 53.6
Market Cap:
$2.21 T

Large Crypto Market Makers Dumping Significant Amounts of Arbitrum (ARB)

Arbitrum

Arbitrum (ARB), one of the most popular altcoins in the cryptocurrency sector, has failed to deliver the desired performance during the recent bull season. Lagging behind many other crypto assets in terms of gains, ARB is now losing value due to unlocking pressures.

As of today, Spot On-Chain, a successful data provider, has identified major crypto market makers selling ARB. Here’s the latest information shared by Spot On-Chain’s X/Twitter account:

Over the past 7 days, two top-tier market makers, GSR Markets and Wintermute, have transferred a total of 48.2 million ARB tokens (valued at $80.83 million) to exchanges for selling:

GSR Markets moved 26.94 million ARB tokens ($45.1 million) to Binance. This move occurred following a significant ARB unlocking event on March 16th.

Wintermute transferred 21.24 million ARB tokens ($35.7 million), primarily to various exchanges including Binance. Wintermute still holds 19.96 million ARB tokens ($33.7 million).

Continued selling of ARB by VCs like GSR and Wintermute in the upcoming period could further negatively impact the price of Arbitrum.

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