According to ME News, on February 7th (UTC+8), on-chain analyst Yu Jin posted on X that Yi Lihua's address appears to be not just unleveraging, but rather liquidating its entire holdings. Currently, the address has transferred 630,400 ETH (US$1.294 billion) to Binance, leaving only 21,300 ETH (US$43.94 million) on-chain. 96% of the ETH has already been transferred to exchanges, far exceeding the amount needed to unleverage, so it's highly likely a complete liquidation. (Source: ME)
Opinion: Yi Lihua's address suggests that he is not merely unleveraging, but rather liquidating his entire position.
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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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