On-chain analyst EmberCN reported that a whale address, which had additionally accumulated 15,000 ETH (approximately $41.26 million) at an average purchase price of $2,751 the day before, cashed out 42,000 ETH, equivalent to 80% of its holdings, about 7 hours ago. This whale, believed to be an institution, deposited the ETH to a Galaxy Digital OTC address 7 hours ago. Deposits to exchanges are typically interpreted as being for selling purposes. If the deposited amount was sold, the whale realized a profit of approximately $21.12 million. According to EmberCN, this whale is known to have accumulated approximately 52,000 ETH at an average purchase price of $2,161 over about two months. As per CoinMarketCap, ETH is currently trading at $2,679.21, down 3%.
