Data: Whale address sold 1.08 million ARB tokens 4 hours ago, resulting in a loss of $276,000.

According to LookOnChain data, on June 12th, a whale address starting with 0x494a sold 1.08 million ARB coins at a loss of $276,000, four hours ago. It is worth noting that this address bought the ARB coins two hours after Andrew Kang's transaction, possibly influenced by his trading activity. Previously, Andrew Kang, the co-founder and partner of crypto venture capital firm Mechanism Capital, had bought 1.17 million ARB coins at an average price of $1.21 on June 2nd, and sold 217,000 ARB coins on-chain at a price of $0.97 on June 10th, resulting in a loss of $280,000, or a loss rate of 20%. 95.3 million ARB coins were transferred to Binance.