ARB Airdrop Hunter Sells All Tokens for $1.27M Profit
• A wallet address, known as the “Super Airdrop Hunter”, sold all of its ARB holdings for a profit of $1.27 million.
• The address had consolidated ARB tokens by farming the Arbitrum airdrop via 630 wallets.
• Despite the sale of a significant amount of ARB all at once, the token’s price had little reaction to it.
Arbitrum „Super Airdrop Hunter“ Makes Profit
The wallet address that consolidated almost one million ARB tokens via 630 different wallets has sold everything, making over a million dollars in profit. The owner of this address, referred to as the “Super Airdrop Hunter”, had farmed an Arbitrum airdrop and then sold all their holdings for ETH. Despite this large sale, it did not affect the price of ARB significantly.
ARB Token Sale Details
The Super Airdrop Hunter sold 933,375 ARB tokens for 708 ETH – equivalent to around $1.27 million at current prices. Another wallet which is believed to have also farmed the Arbitrum airdrop still holds most of its ARB tokens; 1.4M worth around $1.92M at the time and gained from 866 addresses.
ARB Price Reaction
ARBs price had little reaction to these sales despite significant amounts being removed from circulation at once; it is currently trading at $1.36 and down 0.8% in 24 hours and up 1.2% in 7 days according to CoinGecko data sources .
Questions About Token Acquisition
Some are questioning how this particular wallet was able to acquire such a large amount of tokens before the Arbitrum AirDrop took place- suggesting that they may have hacked other wallets prior to receiving them through legitimate means .
A Potential Change In Distribution?
Industry observers suggest projects should implement different distribution frameworks in order to reward unique users- preventing one single holder from dominating any future air drops or token distributions .