As BTC address transfers appeared in the U.S. government, German government, and Mentougou, the market plummeted and whales on major chains fled.
The U.S. government also holds 213,000 BTC, worth approximately $11.5 billion, and 50,000 ETH, worth approximately $1.45 billion.
The German government also holds 42,000 BTC, worth approximately $2.3 billion.
Mentougou also holds 141,600 BTC, worth approximately US$7.69 billion.
At present, all whales and institutions are unloading leverage and reducing their positions.
In the past three hours, a whale has transferred 11,429 ETH and 7,641 ETH to Binance. Currently, a total of 20,830 ETH has been transferred to Binance, worth about 59 million US dollars.
According to the analysis of on-chain analyst Yu Jin, the whale pledged 53,000 ETH on Comppund/Aave through three addresses to borrow 107.8 million stablecoins. Currently, the lowest health rate of his borrowing position has reached 1.15, which means that if ETH falls to around $2,526, his position will reach the liquidation line. With the rapid decline in ETH prices, he chose to sell part of the ETH to repay the loan to reduce leverage.
