ChainCatcher news, according to on-chain analyst Yu Jin's monitoring, in early June, a whale or institution accumulated 302,000 GMX (worth $13.47 million) through 6 addresses at an average price of $45, which drove the GMX price up by 12%.

6 hours ago, this whale/institution transferred a total of 267,000 GMX (worth $8.5 million) from 4 of its addresses to Binance for sale, causing the GMX price to drop from $33 to $28, a decrease of 14%.

Bought in June at a price of $45, now selling at about $30, this whale/institution has incurred a loss of $4 million on GMX.