Arbitrum

<ul class="news-points"> 
 <li>Lookonchain revealed in an X post today that Arca sent 1.49 million ARB to Binance a few hours ago.</li> 
 <li>According to the post, Arca selling its ARB holdings would result in a $465K loss for the investment firm.</li> 
 <li>This is not the first bad investment by Arca, as its positions in GMX, DYDX, DPX, and SYN all ended in losses.</li> 
</ul> 
Lookonchain, the on-chain tracking platform, revealed in an X (formerly Twitter) post earlier today that the investment firm Arca sent a substantial amount of <a href="https://coinedition.com/tag/Arbitrum-arb/">Arbitrum (ARB)</a> to Binance a few hours ago. According to the post, Arca sent 1.49 million ARB tokens, valued at $1.21 million, to the leading cryptocurrency exchange platform. 
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 Arca (<a href="https://twitter.com/arca?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">@arca</a>) deposited 1.49M <a href="https://twitter.com/search?q=%24ARB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$ARB</a> ($1.21M) to <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Binance</a> at a price of $0.815 5 hours ago and is expected to lose $465K. Arca's investment this year appears to be terrible. Lost $213K on <a href="https://twitter.com/search?q=%24GMX&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$GMX</a>, $304K on <a href="https://twitter.com/search?q=%24DYDX&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$DYDX</a>, $142K on <a href="https://twitter.com/search?q=%24DPX&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$DPX</a>, $107K on <a href="https://twitter.com/search?q=%24SYN&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$SYN</a>; Only made a profit of $294K on <a href="https://twitter.com/search?q=%24RDNT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$RDNT</a>. <a href="https://t.co/qPSuZc4MSA" target="_blank" rel="nofollow">pic.twitter.com/qPSuZc4MSA</a>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1712289718220849647?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">October 12, 2023</a>
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Notably, Arca selling its ARB tokens resulted in them losing $465,000, according to Lookonchain. This was not the first investment this year that has not gone in favor of Arca,…
The post <a rel="nofollow" href="https://coinedition.com/arca-sends-1-49m-arb-to-binance-losing-465k/">Arca Sends 1.49M ARB to Binance, Losing $465K</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.

Arca Sends 1.49M ARB to Binance, Losing $465K

Coin Edition

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