$18.5 million worth of Arbitrum tokens flowed into Binance following a $58 million transfer to exchanges last week.

After the recent release of vested tokens in March, more Arbitrum whales moved their holdings to exchanges. On March 23, Lookonchain observed four wallets transferring ARB tokens to exchanges after the $2.32 billion token unlock on March 16.

These whales sent a total of 11.34 million ARB tokens to Binance in four transactions, valued at $18.5 million.

Opinions among the crypto community varied regarding these fund movements. Some users viewed it neutrally, while others speculated on the market impact.

This activity occurred after a previous transfer of $58 million ARB tokens to exchanges on March 18, shortly after the release of $2.3 billion worth of tokens. The release involved 673.5 million ARB for advisers and team members, along with 438.25 million ARB for investors.

Following the token release, ARB prices experienced fluctuations. While reaching a high of $2.22 on March 13, prices dropped to $1.84 on March 16. The token's value further fluctuated between $1.48 and $1.79 over the past week, currently hovering around $1.70.

Despite these changes, ARB's current price is approximately 29% lower than its peak of $2.39 in January.

Looking ahead, Token Unlocks indicates that Arbitrum is set to release an additional 92.65 million ARB tokens on April 16, potentially impacting market dynamics further.