- After the Arkham token sale news, Binance observed one of the huge BNB deposits in the last 12 hours.
- The daily trading volume of BNB surged 180% to stand at $895 million.
Blockchain analytics Lookonchain reported a huge BNB transfer that occurred on Binance in the last 12 hours. An anonymous whale moved nearly 141,835 BNB, worth $35.1 million, to 4 prominent Binance deposit addresses.
A giant whale deposited 141,835 $BNB ($35M) to #Binance 3 hrs ago through 4 Binance deposit addresses.
— Lookonchain (@lookonchain) July 11, 2023
The whale may participate in the Arkham (ARKM) token sale.
Due to the purchase cap of 300K $ARKM, the whale deposited $BNB to 4 Binance accounts in order to buy more $ARKM. pic.twitter.com/9hlSCPLlKj
Notably, the upcoming Arkham (ARKM) token sale on Binance Launchpad is detected as the most probable reason behind this whale activity. This event has spurred the daily trading volume of BNB to spike by 180% over the past 24 hours.
BNB Surges Ahead of Arkham (ARKM) Token Sale
Crypto exchange Binance announced its 32nd IEO on its native launchpad — the Arkham (ARKM) token sale — on Monday. ARKM will be the native token of Arkham Intel Exchange, a crypto data marketplace of Arkham Intelligence, a renowned blockchain intelligence platform. With the motto to “deanonymize the blockchain,” this marketplace enables users to trade on-chain data.
On July 18, the ARKM token allocation to users, based on the count of the locked BNB, will be determined. To participate in this, users will have to accumulate and lock in Binance Coin (BNB).
In the wake of this speculative IEO, the BNB price observed a bullish rally over the past 24 hours. On Binance, the price of BNB/USDT jumped 7% from $231 to $248 at press time. At the time of writing, BNB traded at $248.12 with a 24-hour trading volume of $895,672,635.
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