An early Arbitrum investor transferred 9.94 million ARB to Binance for $17 million
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Blockchain tracking firm Lookonchain (@lookonchain) reported that the largest buyer of Arbitrum (ARB) transferred all its ARBs to Binance on the first day of listing. Thus, on the 15th, 9.94 million ARBs worth approximately $17 million were received on the exchange. However, on April 16, according to Coinmarketcap, the altcoin price dropped by 1.15% to $1.63. This 24-hour loss slightly affected the weekly dynamics of ARB, leaving it in the black by more than 40%. In addition to weakening in a pair with the US dollar, the cryptocurrency suffered losses against bitcoin (BTC) and Ethereum (ETH). However, despite all the losses, the token still ranks first in the list of Coinmarketcap trends. If the ARB price closes below the support level at $1.6051 over the next 12-24 hours, the altcoin's next target will be the 20-day EMA on its 4-hour chart near $1.5479. If, during the next day, the ARB price closes the 4-hour candle above $1.6547, it can move to the next resistance level around $1.706.
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