{"id":536352,"date":"2023-06-03T10:45:19","date_gmt":"2023-06-03T10:45:19","guid":{"rendered":"https:\/\/ktsl888.com\/?p=536352"},"modified":"2023-06-03T10:22:07","modified_gmt":"2023-06-03T10:22:07","slug":"whales-arb-accumulation-boosts-token","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/whales-arb-accumulation-boosts-token\/","title":{"rendered":"Whale’s ARB Accumulation Rekindles Momentum For DeFi Token – Here’s Why"},"content":{"rendered":"

Arbitrum (ARB), a prominent governance token in the decentralized finance (DeFi) ecosystem, recently witnessed a decent surge in price following renewed buying activity from a well-known DeFi whale address.\u00a0<\/span><\/p>\n

Large-scale investors often influence market sentiment and can significantly impact the price of a given asset. However, as the rally unfolds, questions arise about the sustainability of this upward momentum and its implications for the future of Arbitrum.<\/span><\/p>\n

Related Reading: Floki Inu Gains Momentum As Chinese E-Commerce Giant Recognizes Its Utility<\/a><\/div>\n

Whale\u2019s Unusual Buying Activity Coincides With ARB\u2019s Rally<\/strong><\/h2>\n

Arbitrum’s (ARB) current price of $1.24 on <\/span>CoinMarketCap <\/span><\/a>highlights its remarkable performance, with a noteworthy 3.4% rally witnessed within the past 24 hours, followed by an impressive seven-day climb of 7%. Interestingly, this surge in value coincided with unusual buying activity associated with renowned trader Andrew Kang’s crypto addresses.<\/span><\/p>\n

\"\"<\/p>\n

Source: CoinMarketCap<\/pre>\n
Particularly noteworthy is the fact that Andrew Kang, co-founder of Mechanism Capital, has been making some interesting movements within the Arbitrum ecosystem.<\/p>\n
Kang put $1\u00a0million worth of stablecoins into Arbitrum pools and allocated nearly a quarter\u00a0of the funds to the purchase of RDNT tokens. RDNT is the native token of the DeFi\u00a0lending platform Radiant Capital.<\/p>\n
<\/p>\n
BTCUSD currently trading at $27,150 on the weekend chart: TradingView.com<\/a><\/pre>\n
Related Reading: XRP $1 Threshold On The Horizon? Noted Trader Fuels Speculation<\/a><\/div>\n
After filling his bags with RDNT, Kang subsequently exchanged his newly acquired tokens and existing RDNT reserves for $867,000 worth of ARB. <\/span><\/p>\n
These transactions were further followed by Kang depositing the proceeds into Radiant Capital, where he borrowed Circle’s USD Coin. These details have been revealed through data obtained from <\/span>Lookonchain<\/span><\/a>, a reliable data resource.<\/span><\/p>\n
\n
Seems like Andrew Kang is using leverage to go long $ARB<\/a> on @RDNTCapital<\/a>.<\/p>\n
Buy $ARB<\/a> \u2192 Deposit $ARB<\/a> \u2192 Borrow $USDC<\/a> \u2192 Buy $ARB<\/a>https:\/\/t.co\/PQwi0Zj9TT<\/a> pic.twitter.com\/afXjeRtTpv<\/a><\/p>\n
\u2014 Lookonchain (@lookonchain) June 2, 2023<\/a><\/p><\/blockquote>\n
Multiple Whales Seize Opportunity As ARB Price Improves<\/strong><\/h2>\n
In addition to Kang’s intriguing buying activity, another significant player, known by the address “0xf59b,” has also recognized the potential in ARB’s upward trajectory. This whale made a strategic move by depositing <\/span>1.2 million ARB tokens<\/span><\/a>, equivalent to $1.5 million, into the popular cryptocurrency exchange OKX.<\/span><\/p>\n
\n
Whale”0xf59b” finally waited for the rise of $ARB<\/a> and deposited 1.2M $ARB<\/a> ($1.5M) into #OKX<\/a> 30 minutes ago.<\/p>\n
He withdrew 1.2M $ARB<\/a> from #OKX<\/a> on May 8th, and the buying price may be around $1.2.https:\/\/t.co\/cJReZfg007<\/a> pic.twitter.com\/jFwBRtPUpK<\/a><\/p>\n
\u2014 Lookonchain (@lookonchain) June 2, 2023<\/a><\/p><\/blockquote>\n
This whale’s decision to pull the tokens out from OKX on May 8 and potentially purchase them at around the $1.2 mark suggests a deliberate strategy of waiting for a price increase before taking advantage of their holdings. By carefully timing their actions, this entity sought to maximize their potential gains as ARB’s value climbed.<\/span><\/p>\n
These recent large-scale investments signify a growing optimism surrounding <\/span>Arbitrum’s Layer 2 solution<\/span><\/a>, despite the challenges it has faced in the market recently. The renewed interest from both Kang and the whale behind the address “0xf59b” reflects a belief in the long-term viability and potential profitability of ARB.<\/span><\/p>\n
Furthermore, these strategic moves by multiple whales indicate a broader sentiment within the crypto market. As the Ethereum network gradually recovers from the recent drop, there is a growing expectation of increased activity on Layer 2 networks. This anticipation sets the stage for a potentially bullish cycle for these networks, including Arbitrum.<\/span><\/p>\n
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk)<\/em><\/p>\n
-Featured image from The Conversation<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Arbitrum (ARB), a prominent governance token in the decentralized finance (DeFi) ecosystem, recently witnessed a decent surge in price following renewed buying activity from a well-known DeFi whale address.\u00a0 Large-scale investors often influence market sentiment and can significantly impact the price of a given asset. However, as the rally unfolds, questions arise about the sustainability of this upward momentum and its implications for the future of Arbitrum. Related Reading: Floki Inu Gains Momentum As Chinese E-Commerce Giant Recognizes Its Utility Whale\u2019s Unusual Buying Activity Coincides With ARB\u2019s Rally Arbitrum’s (ARB) current price of $1.24 on CoinMarketCap highlights its remarkable performance, with a noteworthy 3.4% rally witnessed within the past 24 hours, followed by an impressive seven-day climb of 7%. Interestingly, this surge in value coincided with unusual buying activity associated with renowned trader Andrew Kang’s crypto addresses. Source: CoinMarketCap Particularly noteworthy is the fact that Andrew Kang, co-founder of Mechanism Capital, has been making some interesting movements within the Arbitrum ecosystem. Kang put $1\u00a0million worth of stablecoins into Arbitrum pools and allocated nearly a quarter\u00a0of the funds to the purchase of RDNT tokens. RDNT is the native token of the DeFi\u00a0lending platform Radiant Capital. BTCUSD currently trading at $27,150 on the weekend chart: TradingView.com Related Reading: XRP $1 Threshold On The Horizon? Noted Trader Fuels Speculation After filling his bags with RDNT, Kang subsequently exchanged his newly acquired tokens and existing RDNT reserves for $867,000 worth of ARB. These transactions were further followed by Kang depositing the proceeds into Radiant Capital, where he borrowed Circle’s USD Coin. These details have been revealed through data obtained from Lookonchain, a reliable data resource. Seems like Andrew Kang is using leverage to go long $ARB on @RDNTCapital. Buy $ARB \u2192 Deposit $ARB \u2192 Borrow $USDC \u2192 Buy $ARBhttps:\/\/t.co\/PQwi0Zj9TT pic.twitter.com\/afXjeRtTpv \u2014 Lookonchain (@lookonchain) June 2, 2023 Multiple Whales Seize Opportunity As ARB Price Improves In addition to Kang’s intriguing buying activity, another significant player, known by the address “0xf59b,” has also recognized the potential in ARB’s upward trajectory. This whale made a strategic move by depositing 1.2 million ARB tokens, equivalent to $1.5 million, into the popular cryptocurrency exchange OKX. Whale”0xf59b” finally waited for the rise of $ARB and deposited 1.2M $ARB ($1.5M) into #OKX 30 minutes ago. He withdrew 1.2M $ARB from #OKX on May 8th, and the buying price may be around $1.2.https:\/\/t.co\/cJReZfg007 pic.twitter.com\/jFwBRtPUpK \u2014 Lookonchain (@lookonchain) June 2, 2023 This whale’s decision to pull the tokens out from OKX on May 8 and potentially purchase them at around the $1.2 mark suggests a deliberate strategy of waiting for a price increase before taking advantage of their holdings. By carefully timing their actions, this entity sought to maximize their potential gains as ARB’s value climbed. These recent large-scale investments signify a growing optimism surrounding Arbitrum’s Layer 2 solution, despite the challenges it has faced in the market recently. The renewed interest from both Kang and the whale behind the address “0xf59b” reflects a belief in the long-term viability and potential profitability of ARB. Furthermore, these strategic moves by multiple whales indicate a broader sentiment within the crypto market. As the Ethereum network gradually recovers from the recent drop, there is a growing expectation of increased activity on Layer 2 networks. This anticipation sets the stage for a potentially bullish cycle for these networks, including Arbitrum. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk) -Featured image from The Conversation<\/p>\n","protected":false},"author":557,"featured_media":536358,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[88069,84309,1144,8686,79567,4735],"class_list":["post-536352","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-arb-price","tag-arbitrum","tag-btcusd","tag-ethusd","tag-layer-2","tag-price-action"],"acf":[],"yoast_head":"\nWhale's ARB Accumulation Rekindles Momentum For DeFi Token<\/title>\n<meta name=\"description\" content=\"Arbitrum (ARB), a prominent governance token in the decentralized finance (DeFi) ecosystem, recently witnessed a decent surge in price following renewed\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/ktsl888.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Whale’s ARB Accumulation Rekindles Momentum For DeFi Token – Here’s Why","url":"http:\/\/ktsl888.com\/news\/whales-arb-accumulation-boosts-token\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/whales-arb-accumulation-boosts-token\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/06\/a-6.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/06\/a-6.png?fit=600%2C289"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["arb price","arbitrum","btcusd","ethusd","layer 2","price action"],"dateCreated":"2023-06-03T10:45:19Z","datePublished":"2023-06-03T10:45:19Z","dateModified":"2023-06-03T10:45:19Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Whale’s ARB Accumulation Rekindles Momentum For DeFi Token – Here’s Why\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/whales-arb-accumulation-boosts-token\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/whales-arb-accumulation-boosts-token\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/a-6.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/a-6.png?fit=600%2C289\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"arb price\",\"arbitrum\",\"btcusd\",\"ethusd\",\"layer 2\",\"price action\"],\"dateCreated\":\"2023-06-03T10:45:19Z\",\"datePublished\":\"2023-06-03T10:45:19Z\",\"dateModified\":\"2023-06-03T10:45:19Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/06\/a-6.png?fit=600%2C289","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/536352"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=536352"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/536352\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/536358"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=536352"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=536352"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=536352"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}