Rollbit, Arbitrum, The Graph lead losses, Bitcoin dips below $25,000: Markets

Rollbit, Arbitrum, and The Graph bear the brunt of crypto market fluctuations as Bitcoin falls below $25k for the first time since June.

Cryptocurrency markets have seen a slight wave of volatility, as the overall market is down by 2.8% in the past 24 hours. Among the top losers were Rollbit Coin (RLB), Arbitrum (ARB), and The Graph (GRT). 

Rollbit Coin (RLB) nosedived 18.5% within a day, currently trading at $0.1293 at the time of writing. Arbitrum is also down by 10% over the same time frame.

Indexing token The Graph (GRT) experienced a 7% decline. At the same time, the NFT-based token ApeCoin (APE) dropped by over 6.5%. A previous report revealed that 96% of APE holders are currently operating at a loss, encompassing over 130,000 addresses. 

Arbitrum whales are selling at a loss 

According to data from Arbiscan, three large transfers to Binance involving over 10.23 million ARB, valued at approximately $8 million, took place today.

Data from Lookonchain revealed that one specific whale had previously purchased 3.64 million ARB for 2,000 ETH ($3.27 million) at an average price of $0.9 since Sept. 3. Today, the same investor deposited all of these ARB assets to Binance, incurring a loss of approximately $300,000. These movements suggest that whales might be losing confidence in the token. 

Sidebar: Bitcoin’s brief dip below $25,000

Amid these notable movements in the altcoin sphere, Bitcoin (BTC) — the leading cryptocurrency — also experienced a momentary setback. For the first time in three months, its price briefly fell below the $25,000 mark.

While it did not experience the drastic drops seen by the aforementioned altcoins, this temporary slide serves as another reminder of the market’s current condition. 

Follow Us on Google News