Arca Records Losses and Gains in Cryptocurrency Investments By

Arca Records Losses and Gains in Cryptocurrency Investments By  |  Editor Venkatesh Jartarkar

Published Oct 12, 2023 01:50PM ET

Arca, a prominent investment firm, has experienced notable fluctuations in its cryptocurrency portfolio. The firm has recorded both losses and gains across different tokens, according to data from Lookonchain and CoinMarketCap.

On Thursday, Arca’s significant transfer of Arbitrum (ARB) tokens to Binance resulted in a loss of $465K. The firm also registered losses from their positions in GMX ($231K), DYDX ($304K), DPX ($142K), and SYN ($107K).

DYDX was particularly impacted, witnessing a more than 3% price drop. Conversely, GMX saw a minor increase of 0.59%, despite the loss incurred by Arca.

However, it wasn’t all negative for the investment firm. Arca’s position in RDNT turned a profit of $294K. The cryptocurrency saw a slight rise of 0.67%, reflecting the positive return on Arca’s investment.

In terms of 24-hour gains, all the aforementioned cryptocurrencies, except for DYDX, recorded increases. DPX and SYN stood out with substantial gains. Despite a small dip from its peak price of $82.69, DPX was trading at $81.77. Meanwhile, SYN was valued at $0.2805.

The recent events underline the volatile nature of cryptocurrency investments, with firms like Arca experiencing both highs and lows within short periods.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Arca Records Losses and Gains in Cryptocurrency Investments By
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