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Arbitrum Gain 8% As Whales, Andrew Kang Chips In
Arbitrum (ARB), the token connected with the popular Layer 2 scaling solution, has experienced a robust 8% price increase. Surprisingly, the increase coincides with renowned cryptocurrency investors, such as Andrew Kang, considerably boosting their holdings.
This bullish behaviour provides a ray of hope after a difficult market period for ARB, which has seen its value drop by 29% in recent days.
Andrew Kang, well-known for his ability to identify and fund promising companies, has made a large commitment to ARB.
He sold all of his RDNT holdings, only to reinvest the money in ARB, buying a total of 723,311 ARB for $867K at an average price of $1.2 per token.
Additionally, another whale, known by the address “0xf59b,” has also decided to capitalize on ARB’s rise. This entity deposited 1.2 million ARB into OKX.
(With inputs from Shikha Singh)
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