On-chain analysis indicates that Mechanism Capital's Andrew Kang purchased an additional 1.51 million Arbitrum tokens at $1.23 with approximately $1.85 million of USDC, the stablecoin. Kang — also a member of PleasrDAO — has purchased a total of 2.3 million ARB with an average buying price of $1.24 per token, note on-chain analysts at Lookonchain. Another Arbitrum whale — the largest individual holder of the project's governance token — withdrew 5.85 million ARB tokens ($7.15 million) from the centralized exchange Gate io. This entity currently holds 17.62 million ARB, worth approximately $21.5 million at current prices. More info: https://bit.ly/3m71cG7