A certain whale/institution sold 11,620 ETH and converted them to USDT over the past 6 hours to repay a loan.
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According to Odaily Odaily, on-chain analyst Yu Jin monitored that ETH fell to $2,850 on July 5, and a whale/institution sold 36,000 ETH (about $104 million) on that day to exchange for USDT to repay loans and avoid liquidation. Today, ETH fell by 8%, and this whale/institution sold another 11,620 ETH (about $36.77 million) in USDT in the past 6 hours to repay loans. This whale/institution currently holds only 17,943 ETH, and before June 25, he held 78,714 ETH, which means that 60,771 ETH were sold in the past month.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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