03-25-2023 icon

Arbitrum Free Token Activity Records 1,500 Addresses, Integrates $3.3 Million In Two Distinct Blockchain Wallets

By Lucy Adegbe

Following the continued publicity of the Arbitrum free token activity is a blockchain-based reveal displaying that free token hunters integrated tokens with a total estimated value of about $3.3 million from about 1,496 wallets into just two distinct wallets.

As analyzed by the on-chain data tracking protocol Lookonchain, one of the two wallets got an estimated 1.4 million ARB which was tracked from 866 distinct addresses. 

The account, afterwards, merged all ARB sent to the trustless digital currency trading platform Uniswap to offer liquidity

According to current market estimation as of the time of publication, the 1.4 million in ARB holds a monetary value of about $2 million.

Then again, the second wallet recorded 933,375 ARB sent in from 630 distinct addresses, with a monetary value of about $1.38 million.

Although the on-chain data tracking protocol termed the addresses as the duo “super raindrop hunters,” other community participants have had their formulations of hypotheses concerning the party responsible for the blockchain-based actions.

A number of these participants alleged that it is probably an activity carried out by crew partners of the project, and others speculate it to be the work of a cyberpunk.

Concurrently, a community participant thinks that this activity is likely to result in a notable plunge in trade volumes.