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Whale address transfers out 3,373 ETH in 7 hours, suspected to be preparing to cut losses after the unrealized loss narrows.
【Blockchain Rhythms】Today I noticed an interesting move while monitoring the market: a whale address starting with 0x31D sent 3,373 ETH to a major exchange within 7 hours, worth approximately 11.47 million USD, with an average recharge price around $3,400.
I checked the address’s history, and back in mid-October, it withdrew 3,593 tokens at a price of $4,051. At that time, ETH was dropping sharply, and the paper loss once reached $5.13 million. If this wave is truly sold now, the actual loss has been reduced to around $2.2 million — still a loss, but much better than before. Looks like they can’t hold on anymore and are preparing to cut losses and exit?