ARC Token Experiences Significant Decline in Market Value

ARC token has seen a dramatic decrease in its market value, according to ChainCatcher. The token's market capitalization fell from $131 million to $56.65 million, marking a 44.89% drop within 24 hours. Onchainschool.pro reported that a whale address began selling off ARC tokens after receiving $1.7 million worth, and has since liquidated its entire holdings. Additionally, ARC contracts faced liquidations totaling $3.4924 million, with long positions accounting for $3.0054 million.