PANews reported on June 25 that on-chain analyst Ember tweeted that a whale or institution sold 10,414 ETH last night. He transferred these ETH to Binance through three addresses and then withdrew stablecoins worth $36.32 million. The sale was to reduce leverage: he pledged 68,300 ETH (worth $228 million) on Aave and Compound and borrowed $141 million in stablecoins. The stablecoins obtained from the sale of ETH were used to repay the loan, thereby reducing the borrowing position.