Ramazan Eles 
Arbitrum (ARB), one of the most popular altcoins in the cryptocurrency sector, has failed to deliver the desired performance during the recent bull season. Lagging behind many other crypto assets in terms of gains, ARB is now losing value due to unlocking pressures.
As of today, Spot On-Chain, a successful data provider, has identified major crypto market makers selling ARB. Here’s the latest information shared by Spot On-Chain’s X/Twitter account:
In the past 7 days, two tier-1 market makers GSR Markets and Wintermute have unloaded 48.2M $ARB ($80.83M) to CEX:
• @GSR_io moved 26.94M $ARB ($45.1M) to #Binance. These ARBs all came from the token unlock on Mar 16.
• @wintermute_t moved 21.24M $ARB ($35.7M) to various… pic.twitter.com/jhTlSgigmO
— Spot On Chain (@spotonchain) March 28, 2024
Over the past 7 days, two top-tier market makers, GSR Markets and Wintermute, have transferred a total of 48.2 million ARB tokens (valued at $80.83 million) to exchanges for selling:
GSR Markets moved 26.94 million ARB tokens ($45.1 million) to Binance. This move occurred following a significant ARB unlocking event on March 16th.
Wintermute transferred 21.24 million ARB tokens ($35.7 million), primarily to various exchanges including Binance. Wintermute still holds 19.96 million ARB tokens ($33.7 million).
Continued selling of ARB by VCs like GSR and Wintermute in the upcoming period could further negatively impact the price of Arbitrum.
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