Wintermute Moves $12M ARB To Binance, ARB Price Rally Ahead?

In a strategic maneuver, Wintermute has transferred $12 million worth of ARB tokens to Binance, sparking anticipation of a potential price rally. This significant move by the prominent market maker has caught the attention of investors and analysts, who are now closely monitoring the market for signs of upward momentum in ARB’s valuation. With such a substantial transaction making waves in the crypto community, the stage is set for possible shifts in the token’s market dynamics.

Wintermute’s Detailed Transaction Breakdown

The Data Nerd monitoring shows that three wallet addresses belonging to Wintermute deposited 12.3 million ARBs (approximately $12 million) into Binance five hours ago. These tokens were withdrawn from Coinbase two days ago.

The transactions involved three separate wallets, each carrying different transaction volumes: 4.680 Million ARB tokens were moved from the first address, 4.125 Million tokens from the second address, and 3.463 Million ARB tokens from the last address. The coordinated movement of these large amounts suggests a deliberate strategy by Wintermute, possibly to influence ARB’s liquidity and market presence on Binance.

Also Read: Fed’s Rate Cut Decision Looms as Bitcoin (BTC) Price Aims for $89,200

Current Market Metrics and Recent Developments

The price of Arbitrum (ARB) stands at $0.9628 today, with a 24-hour trading volume of $225,544,186.80. This represents a -0.72% price decline in the last 24 hours and a -14.28% price decline in the past 7 days. With a circulating supply of 2.9 billion ARB, Arbitrum’s market cap is valued at $2,792,370,669. Additionally, ARB open interest has had a slight downturn of 2.89%, with a current valuation of $164.4 million.

Notably, earlier this past week, a partnership between Wintermute and $BENJI was announced. A post on X (formerly Twitter) stated, “We are proud to announce that $BENJI has officially partnered with @wintermute_t, widely recognized as the world’s leading crypto-native trading firm. They will be providing liquidity for our exchange listings.” This partnership underscores Wintermute’s expanding influence and strategic engagements within the crypto ecosystem.

Also Read: Crypto Prices Today June 10: BTC & Altcoins Regain Momentum, NOT & OM Top Gainers

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