Yesterday, a whopping 2.694 billion $ARB tokens were transferred to around 140 EOA addresses via the address "0x1e70" on the Arbitrum network.
However, this transaction has caused some concern among the crypto community as according to the official docs, all investor and team tokens have a 4-year lock-up period. Interestingly, the on-chain data shows that one of the addresses, "0x8d45", transferred 22.56 million $ARB (equivalent to $28 million) to Coinbase after receiving it.
While other addresses have not made any transfers at the moment, they are free to sell these tokens on exchanges anytime without any code restrictions.
It remains to be seen what the motives behind this transfer were and whether it will affect the price of $ARB tokens.
As always, we advise investors to do their due diligence before making any investment decisions.
Stay tuned for more updates on this developing story!
Hey, it's CryptoPatel here!
I'm passionate about providing you with the latest insights and analysis on the world of cryptocurrencies.
If you enjoy my content and want to show your support, please like, share, and follow me for more high-quality updates.
Thank you for your support, and let's continue to stay connected for more exciting content!
LIKE â€ïž
Share â©
Follow đ€
#arbitrum #arb #Binance #crypto2023 #bicasso