A 5,972 ETH position built at $1,989 on March 27-28 was sent to Binance at $1,774.24 after ETH fell again, PANews reported, citing on-chain analyst Ai Yi.
An Ethereum whale appears to have exited a sizable position at a loss after hawkish remarks from Waller coincided with another drop in ETH. The wallet had accumulated 5,972 ETH at an average price of $1,989 on March 27-28, then deposited $10.59 million worth of ETH to Binance about nine hours before the report at $1,774.24 per token, according to PANews, citing on-chain analyst Ai Yi. Based on those figures, the move suggests a likely capitulation sale with an estimated loss of $1.287 million. Large transfers to exchanges are often watched as potential signs of intended selling because tokens moved onto trading venues can become immediately available for liquidation.