BlockBeats News, March 17th. According to on-chain analyst Wu Ji, the “Whale/Institution that allocated $500 million to buy the dip in BTC and ETH in early February” reduced its holdings last night after the market’s rise, selling 12,000 ETH and 330 cbBTC, worth $51.79 million. Since the current ETH price has not yet returned to its dip average price, this sell-off can be considered a “stop-loss” operation. The average purchase price of their ETH was $2,667, and the average purchase price of cbBTC was $73,837. The sale resulted in a realized loss of $19.66 million.
The Whale/Institution currently holds $603 million worth of ETH and BTC, including 138,000 ETH, worth $326 million, and 3,670 cbBTC, worth $277 million.
