The Arbitrum Foundation's multi-signature wallet has transferred 10 million ARB to Coinbase Prime

ChainCatcher news, according to on-chain analyst Yu Jin @EmberCN's monitoring, a multi-signature wallet of the Arbitrum Foundation transferred 10 million $ARB ($4.99 million) to Coinbase Prime 9 hours ago.

This wallet unlocks about 15 million ARB from the Arbitrum Foundation's unlocking allocation contract every month, and then transfers 10 million of those to Coinbase Prime. Since unlocking ARB began in July 2023, this wallet has unlocked a total of 414 million ARB so far. Of these, 350 million were transferred to Coinbase Prime after being received, valued at $318 million based on the price at the time of transfer to the exchange, with an average price of $0.91.