Arbitrum airdrop sees 1,500 addresses consolidate $3.3M into two wallets

Spread the love

Because the hype surrounding the Arbitrum (ARB) airdrop continues, on-chain exercise exhibits that airdrop hunters consolidated tokens value round $3.3 million collectively from 1,496 wallets into two wallets.

In accordance to the blockchain evaluation platform Lookonchain, one pockets acquired 1.4 million ARB from 866 addresses. The account then added all of the ARB acquired to the decentralized trade Uniswap to offer liquidity. The 1.4 million ARB tokens are value round $2 million on the time of writing. Alternatively, one other pockets acquired 933,375 ARB from 630 addresses, value round $1.38 million.

Whereas the evaluation platform described the addresses as two “tremendous airdrop hunters,” group members couldn’t assist however formulate their very own theories about who was behind the on-chain actions. 

Some theorized that this is perhaps the work of group members of the challenge, whereas others suppose it might be a hacker. In the meantime, one other group member believes this may occasionally result in a major drop in transaction volumes.

Group member shares their opinion on the on-chain exercise. Supply: Twitter

Whereas some sentiments had been damaging, others praised the efforts of the so-called airdrop hunters, calling them names like “airdrop god.” One other believes that whoever is behind these addresses has spent a lot time and capital farming the numbers.

Associated: Arbitrum airdrop sells off at itemizing, however merchants stay bullish on ARB

The hype behind the ARB airdrop additionally made its solution to the over-the-counter (OTC) markets. On March 21, crypto customers eligible for the airdrops had already began promoting the tokens in OTC markets after the airdrop announcement.

In the meantime, aside from upstanding group members, hackers additionally actively participated within the airdrop craze. On March 24, some hacked self-importance pockets addresses had been used to steal $500,000 value of ARB tokens from eligible airdrop individuals.

Journal: Finest and worst nations for crypto taxes — Plus crypto tax ideas