19.01 million Arbitrum tokens deposited into Coinbase; estimated loss of $945,000

A wallet deposited 19.01 million Arbitrum (ARB) tokens to Coinbase over roughly seven hours, completing by 9:38 a.m. on the 1st, according to on-chain monitoring cited by Odaily. The address had withdrawn 24.01 million ARB from an exchange on September 22 at an average price of $0.2204 per token, and the deposit was made at an average price of $0.181, implying a 17.8% decline in asset value and an estimated loss of $945,000 (about 1.26 billion won). The move suggests the holder realized losses on a large ARB position, and the transfer to Coinbase could signal potential selling pressure, though the tokens may simply be custodied rather than sold. Market watchers will be monitoring whether the tokens are subsequently sold on Coinbase and whether similar large-holder deposits to exchanges follow.