The price of $ARB has surged 40% over the past week.
Why is it pumping, and what’s happening on-chain?
1/ Here’s a thread 🧵
2/ The rally in $ARB was fueled by speculation that Robinhood might partner with Arbitrum to build a blockchain platform enabling European investors to trade U.S. stocks.
5/ We also noticed that Anchorage Digital custody wallets transferred 50.1M $ARB($15.3M) to Wintermute’s hot wallet over the past two weeks.
6/ A wallet possibly linked to Monetalis received 42.19M $ARB($12.88M) over the past week.
The wallet now holds 77.12M $ARB($27.81M), making it the 13th largest holder of $ARB.
8/ Fueled by speculation around a potential Robinhood-Arbitrum partnership, market makers became more active, helping drive $ARB's price higher.
Meanwhile, large on-chain transactions suggest that $ARB's chips may have changed.
Investors may be taking this opportunity to sell $ARB amid rising prices and improved liquidity.
176.5K
688
The content on this page is provided by third parties. Unless otherwise stated, OKX TR is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX TR. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX TR is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.