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Breaking News: SOL Strategies: The First Solana Treasury Company Listed On Nasdaq

Arbitrum Sale On Binance: How This Investment Firm Lost $465,000 In An ARB Trade

Samuel Edyme
Samuel Edyme
1 year ago
3 mins read
Bitcoin Bounces Back Above $67,000

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Recent transactions by Arca, a prominent investment firm, involving Arbitrum native token ARB, have again put them under the spotlight. According to on-chain tracking platform Lookonchain, the firm has suffered a substantial loss nearing half a million recently.

Arca’s Arbitrum Shipment to Binance

Lookonchain reported earlier today that Arca transferred roughly 1.49 million ARB tokens to Binance. With a value of around $1.21 million, this transaction indicates a possible liquidation of Arca’s holdings in Arbitrum (ARB).

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Arbitrum: What’s In Store For ARB Token After Unlock?

1 year ago

If this were the case, according to Lookonchain, it would translate into a significant loss of $465,000 for the investment firm. Notably, as significant as it seems, the ARB token transaction isn’t an isolated case of Arca’s investments not panning out as anticipated. Loononchain noted: “Arca’s investment this year appears to be terrible.”

An analytical dive into the firm’s past decisions has shown similar patterns. For instance, Arca’s foray into GMX and DYDX left them with losses of $231,000 and $304,000, respectively. Their stakes in DPX and SYN further compounded their negative streak, resulting in losses of $142,000 and $107,000.

Arca (@arca) deposited 1.49M $ARB ($1.21M) to #Binance at a price of $0.815 5 hours ago and is expected to lose $465K.

Arca’s investment this year appears to be terrible.

Lost $213K on $GMX, $304K on $DYDX, $142K on $DPX, $107K on $SYN;

Only made a profit of $294K on $RDNT. pic.twitter.com/qPSuZc4MSA

— Lookonchain (@lookonchain) October 12, 2023

Silver Linings Amid Investment Storms

However, it’s crucial to note that not all is gloomy for Arca. Investment is as much about strategy as it is about timing, and while the firm has faced setbacks, they’ve also had its share of victories.

An example is their investment in RDNT, which proved profitable, netting them a profit of $294,000, according to the on-chain tracking platform.

Furthermore, Arca is not alone in its recent losses with Arbitrum. The ARB token has seen a decline of nearly 10% over the past week and 1.2% in just the last day, ensnaring numerous traders in its bearish trajectory.

Data from Coinglass indicates that Arbitrum has witnessed total liquidations amounting to approximately $376,160 in the past 24 hours alone. A significant portion of these liquidations were long positions, valued at $282,120, compared to short positions at a mere $93,840.

This data suggests that many traders were optimistic about ARB’s potential to follow a bullish trend. However, starkly contrasting their expectations, they faced significant losses.

Related Reading

Arbitrum

Arbitrum Price Sinks To A New All-Time Low – What Is Behind This Decline?

1 year ago

When writing, the ARB token is trading at $0.72, marking a significant drop of roughly 90% from its all-time high of $8.67 recorded just seven months ago in March.

Arbitrum (ARB) price chart on TradingView
Arbitrum (ARB) price is moving sideways on the 4-hour chart. Source: ARB/USDT on TradingView.com

Featured image from iStock, Chart from TradingView

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Samuel Edyme
Samuel Edyme

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Read more

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

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The highest standards in reporting and publishing
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