Arbitrum-linked wallets transferred 22 million ARB, valued at approximately $2.3 million, to Coinbase within the last 24 hours, raising concerns about potential market supply increases. Despite this, data indicates that nearly $11 million worth of ARB has been moved off centralized exchanges over the past week, suggesting ongoing investor interest in self-custody. The ARB token is currently trading near a critical support level of $0.1006, following a decline from its ascending channel. The market sentiment remains cautious, with the OI-Weighted Funding Rate dropping to -0.0051%, indicating bearish sentiment among derivatives traders. Liquidation activity has been limited, reflecting a lack of strong directional conviction. If ARB maintains its support, it could stabilize and potentially challenge higher resistance levels.
Arbitrum Transfers 22M ARB to Coinbase Amid Market Tensions
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