In a recent development, a whale known by the short address 0x71b made a second Arbitrum (ARB) deposit to cryptocurrency exchange Binance. Deposits of 1.46 million ARB, corresponding to $1.66 million, were made to Binance in the last hour at an average price of $1.13.
This marks the completion of two ARB trading cycles by the whale with different profit and loss results:
In the first cycle, the whale suffered a loss of 137 thousand dollars, a 25% decrease. Whale had accumulated 428,723 ARB from Binance on July 18, 2023 at $1.28 ($549 thousand). Later, the entire 428,723 ARB was deposited back to Binance on August 27, 2023 at $0.962 ($412K).
Unlike the first cycle, in the second cycle the whale earned $442 thousand, a significant jump of 36.3%. Whale had accumulated 1.46 million ARB from Binance at $0.832 ($1.22 million) on October 22. These last ARB tokens owned by the whale were sold at a price of $ 1.13 for a total of $ 1.66 million.
At the time of this writing, the whale wallet has only $83,000 worth of Ethereum in its account. With his last trades, the whale in question completed the Arbitrum trade with a total profit of approximately $300,000.
*This is not investment advice.
