TechFlow reports that on March 5, according to on-chain analyst EmberCN (@EmberCN), the whale who received the largest amount of ETH from the Genesis Trading liquidation payout last year has sold 40,000 ETH (approximately $89.2 million) via over-the-counter transactions in the past two days.
The address transferred 30,000 ETH to Galaxy Digital and received 20 million USDC, and sent another 10,000 ETH to FalconX, receiving 19.49 million USDC.
Last August, this whale received 114,500 ETH (around $358 million at the time) from the Genesis Trading liquidation, when ETH was priced at $3,128. The current ETH price has since fallen approximately 30% from that level.
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