Wintermute Acquires $36 Million ARB Before Token Unlock

Arbitrum token ARB is currently priced at $2.06, showing a 3.20% decrease over the past 24 hours.

Last updated: March 15, 2024 6:32 PM

Published March 14, 2024 4:55 PM

Last updated: March 15, 2024 6:32 PM

Published March 14, 2024 4:55 PM

Wintermute Trading recently acquired $36.3 million worth of ARB tokens in eight hours, coinciding with an impending unlocking event on March 16 involving 1.11 billion ARB tokens valued at around $2.23 billion.

In the past 8 hours, Wintermute Trading (@wintermute_t) accumulated a net amount of 17.08M $ARB ($36.3M) from CEX, expanding their $ARB position vastly before the upcoming massive unlock on Mar 16!

Current holding: 29.48M $ARB ($61.9M).

Follow @spotonchain and check out the… pic.twitter.com/mM64jxM14Z
— Spot On Chain (@spotonchain) March 14, 2024

Data provided by Spot On Chain indicates that Wintermute Trading withdrew 19.19 million ARB tokens from major exchanges such as Binance and Coinbase while concurrently depositing 2.11 million ARB tokens onto platforms like OKX and Gate.io.

As a result, the firm’s total ARB holdings now stand at 29.48 million, valued at around $61.9 million.

This strategic accumulation of ARB tokens by Wintermute Trading hints at the potential anticipation of market fluctuations surrounding the impending unlock event. The timing and scale of this acquisition underscore the firm’s proactive approach to navigating opportunities within the crypto space.