【💥Large wallet movement💥】
10 hours ago, "a wallet (Wintermute related)" withdrew 4 million ARB (3.1 million US dollars) from "Coinbase".
Wintermute is a trading market maker, and has made markets for projects such as MATIC, OP, CELO, 1INCH, DYDX, etc.
Address: 0xe38D81670bCEc5d945EC2B1a1BDabF107E223D3A
ARB has fallen from a previous high of 2.27 to a recent low of 0.564, a drop of 75%.
Prior to this, market maker GSR also purchased $5 million of ARB.
The reason why market makers purchased ARB in such a large amount is speculated to be: ARB previously opened a community proposal - it is recommended to distribute 50% of the ARB sorter profits to token holders.
The voting date for this proposal will start in late July, and holding a large number of ARBs can account for a large proportion of votes in the voting process.
