#ARB/USDT. #BTC

Two large investors recently earned a profit of $3.29 million by selling 2.77 million ARB tokens. The price of ARB could potentially rise because of two factors.

The upcoming token unlock and the Ethereum Dencum upgrade. If ARB manages to surpass the resistance level of $2.15, it could see a further increase to $3.

Arbitrum and Ethereum Face Key Events

Arbitrum (ARB) and Ethereum (ETH) are approaching significant events: the token unlock for Arbitrum and the Dencun Upgrade for Ethereum. Recently, two whales moved millions of ARB tokens, depositing 2.77 million tokens into Binance, valued at $5.94 million at the time, resulting in a $3.29 million profit.

The Arbitrum token unlock is set for March 16, with Ethereum’s Dencun Upgrade scheduled three days earlier. While some view these events optimistically for ARB, the token release could flood the market with 1.1 billion tokens, potentially affecting ARB’s liquidity, volatility, and trading volume. Typically, such token unlocks can lead to price declines due to increased supply.