This Altcoin Is The New Prey Of AVAX Selling Whales!

Lookonchain reports that its two giant whales sold a large amount of AVAX last month. Also, the analytics platform shared that two whales that have been inactive for a long time have started receiving ARBs.

Whales waking up rushed to get ARB!

On-chain analytics platform Lookonchain reported this week that two dormant whales have become active again. This whale has started buying large quantities of Arbitrum (ARB) tokens. One of the whales was dormant for 1.6 years. This whale has now purchased 450,881 ARBs from Binance and paid $504,000 for it. The second whale emerged after half a year of sleep. He then spent 939 ETH (worth $1.68 million) buying 1.57 million ARBs to satisfy his hunger. Lookonchain hints that these purchases are questionable. In other words, it’s as if these whales know something in advance. In this context, Lookonchain shared the following:

When a sleeping whale wakes up and buys a token, it must know something in advance. ARB is pumping today and 2 dormant whales have already purchased ARB.

Today, ARB jumped 6.73% from $0.1413 to $0.2182. Altcoin showed a very rapid rise in this move. Also, over the past seven days, i.e. since June 22, the ARB price has increased by more than 22%. ARB’s daily trading volume increased just under 44% to $433 million.

Two giant whales sell massive AVAX

According to Lookonchain, the two giant whales sold a total of 796,000 AVAX (about $11 million) last month. Of these, the opening address 0x4c1c sold 427,154 AVAX (~$5.74 million) at an average price of $13.44. However, the same address currently holds 577,846 AVAX (about $7.72 million). Luna Foundation Guard, on the other hand, sold 369,000 AVAX (about $5.31 million) for an average price of $14.40. However, the same whale currently holds 716,000 AVAX (about $9.56 million).

BLUR rises with new listing news

Meanwhile, Arbitrum isn’t the only speculative token currently on the rise. As you follow on Kriptokoin.com, BLUR also showed a rapid price increase. The altcoin is up 27% on the day and nearly 13% over the past week. Now investors withdraw their funds from crypto giants like Bitcoin and Ethereum, while investing them in more speculative tokens like BLUR and ARB.

Earlier today, South Korean crypto giant Upbit announced that it has added support for BLUR. According to Lookonchain’s post, this has increased the token price by about 27%. It was also reported that Wintermute Trading pulled 10 million BLUR (worth $4.2 million) from Coinbase Custody Wallet and then moved them to Kraken exchange more than 12 hours ago.