Arbitrum

<p>A whale <a href="https://twitter.com/lookonchain/status/1705042519904641287?t=HmvHgzWcMf-4HeI8gBBItQ&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">appears</a> to have sustained significant losses on $ARB, yet remains notably bullish on the asset. This individual has recently withdrawn 1.15 million $ARB, equivalent to $952K, from Binance within the last 48 hours.</p> 
<figure class="wp-block-image size-large"> 
 <img decoding="async" loading="lazy" width="1024" height="526" src="https://captainaltcoin.com/wp-content/uploads/2023/09/image-437-1024x526.png" alt="" class="wp-image-340429" srcset="https://captainaltcoin.com/wp-content/uploads/2023/09/image-437-1024x526.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-437-300x154.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-437-768x394.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-437-1536x788.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-437-2048x1051.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-437-292x150.png 292w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-437-100x51.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-437-682x350.png 682w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-437-788x404.png 788w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
<h4 class="wp-block-heading"><strong>Background:</strong></h4> 
<p>On July 23, the whale had gone long on $ARB via Aave, a decentralized finance protocol that allows people to lend and borrow cryptocurrencies. However, as the price of $ARB experienced a downturn, the whale found themselves in a precarious position, necessitating the sale of $ARB at a loss to settle debt on September 11.</p> 
<h4 class="wp-block-heading"><strong>Transaction Details:</strong></h4> 
<p>Prior to this, the whale had withdrawn a substantial 17.53 million $ARB, valued at approximately $20.87 million, from Binance at an average withdrawal price of $1.19. Subsequently, a deposit of 11.13 million $ARB, roughly amounting to $10.17 million, was made to Binance at an average deposit price of $0.91. This sequence of transactions resulted in a loss exceeding ~$3 million! Despite this setback, the whale currently holds 7.55 million $ARB, valued at approximately $6.25 million.</p> 
<h4 class="wp-block-heading"><strong>Analysis:</strong></h4> 
<p>The whale’s actions suggest a steadfast belief in the potential upside of $ARB, despite the incurred losses. This unwavering confidence could be indicative of a broader sentiment or insight into the future trajectory of $ARB, potentially signaling an upcoming uptrend or underlying value not fully recognized by the wider market.</p> 
<h4 class="wp-block-heading"><strong>Market Implications:</strong></h4> 
<p>The market will be closely monitoring the whale’s future transactions and positioning in $ARB, as significant movements by large holders can have substantial impacts on asset prices and market dynamics. It remains to be seen whether other investors will align with this bullish stance or if contrasting strategies will emerge in response to the whale’s ongoing activities.</p> 
<h4 class="wp-block-heading"><strong>Conclusion:</strong></h4> 
<p>This series of transactions highlights the inherent risks and potential rewards within the cryptocurrency market, where even experienced and well-capitalized entities can incur substantial losses. The whale’s continued bullish stance on $ARB, despite recent setbacks, serves as a focal point for market observers and participants, potentially influencing strategies and market perceptions in the coming days and weeks.</p> 
<p><em>This article is not financial advice and is intended for informational purposes only. Always conduct thorough research and consult with a financial advisor before making investment decisions.</em></p> 
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style=""> 
 <div class="col_wrap_two mb0"> 
  <div class="offerbox_big_wrap flowhidden"> 
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"> <a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a> 
   </div> 
   <div class="product-summary col_item mobileblockdisplay"> 
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"> <a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a> </h3> 
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"> <strong>74% of retail CFD accounts lose money.</strong> 
    </div> 
    <div class="buttons_col mb25 rh_big_btn_inline"> 
     <div class="priced_block clearfix"> 
      <div> <a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a> 
      </div> 
     </div> 
    </div> 
    <div class="bigofferdesc"> <i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. 
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. 
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. 
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate. 
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc. 
    </div> 
   </div> 
  </div> 
 </div> 
</div> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/arbitrum-arb-whale-sticks-to-bullish-stance-after-3m-loss-do-they-know-something-we-dont/">Arbitrum ($ARB) Whale Sticks to Bullish Stance After $3M Loss – Do They Know Something We Don’t?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Arbitrum ($ARB) Whale Sticks to Bullish Stance After $3M Loss – Do They Know Something We Don’t?

Table of Contents

CaptainAltcoin

Other articles published on Sep 22, 2023

SNX Price Prediction: SNX Shows Weak Cues, Will it Hold $2?

Philippine Bank Becomes First to Gain Full Crypto License - A Momentous Step Toward Financial Fre...

Investors are hastily ditching stablecoins – Why?

Toyota Reveals its Plan to Catch up on EV Battery Technology

BRICS vs. U.S.: Who will be at the top come next decade?

Ripple vs. SEC: Analyzing the SEC’s Interlocutory Appeal and Its Ripple Effect”

Join our free newsletter for daily crypto updates!