According to Wu's report, @EmberCN monitored that at the beginning of June, a whale or an institution purchased 302,000 GMX tokens (13.47 million USD) through 6 addresses at an average price of 45 USD, which pushed the GMX price up by 12%. Six hours ago, this whale/institution transferred a total of 267,000 GMX tokens (8.5 million USD) from 4 of its addresses to Binance for sale. This caused the GMX price to drop from 33 USD to 28 USD, a decline of 14%. This whale/institution incurred a loss of 4 million USD on GMX.