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EOA Address Collects 59M ARB, Potentially Upbit's Hot Wallet: 0xScope

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According to Web3 knowledge graph protocol 0xScope, an EOA address has been collecting a massive amount of ARB, the native token of Arbitrum, over the past day, and now holds 59M ($84.4M) ARB.

Based on the activity, it is believed to be Upbit's hot wallet, which would make Upbit the second largest holder of ARB after Binance. The tweet also mentions the possibility of a "Kimchi Premium," which refers to the phenomenon of crypto prices being higher in South Korea due to high demand. 

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