TechFlow reports, according to on-chain analyst Yujin's monitoring, a whale/institution that bought ETH and various ETH ecosystem tokens after the approval of the ETH spot ETF's 19-4 filing at the end of May has transferred multiple ETH ecosystem tokens worth $11.57 million into Binance for selling in the past hour, causing these tokens to drop in price to varying degrees, including:
3.514 million LDO (approximately $6.23 million);
49,700 AAVE (approximately $4.49 million);
319,800 FXS (approximately $850,000).
This whale clearly bet on the ETH spot ETF news to drive gains across ETH ecosystem tokens, purchasing tens of millions of dollars' worth of various tokens.
He is now selling all of these ETH ecosystem tokens at a loss, with none of the positions realizing a profit.
