While the big unlocking in Arbitrum, whose effect on the price was highly expected for a while, was completed, the whales moved millions of tokens to the stock exchanges. While more than $2 billion in tokens entered circulation, whales moved their ARBs to the exchanges.

According to the information provided by the on-chain tracking platform Lookonchain, after the big lock opening, a total of 11 whales sent 34 million ARBs worth approximately $60 million to the stock exchanges. It is known that such stock market transfers usually result in sales.

9 million went to Binance

Another on-chain platform, Spot On Chain, also gave other details and stated that 6 wallets, which were entitled to the unlocked tokens, sent 9 million tokens worth approximately $16 million to the Binance exchange.

The majority continues to hold

Data from Santiment also shows that transactions worth more than $1 million on 16 March reached the largest level ever seen. However, despite all these sales, most of the whales continue to accumulate. Figures; Wallets holding between 10 million and 100 million coins have risen sharply as of 16 March.

While the price fell back by 15% over the weekend, it is trading at $1.69 at the time of writing.