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Institutions significantly reduced their holdings of ETH, cashing out $107 million in one day.
[Block Rhythm] On July 17, according to the monitoring by on-chain data analysts, a certain institution has transferred a total of 79,471 ETH (, approximately 250 million ), to a certain trading platform for reduction. After starting the reduction, their on-chain borrowing has decreased from 275 million before the sale of ETH to the current 168 million dollars.
The institution has sold at least $107 million worth of ETH in the past day. Its on-chain address currently holds 108,000 ETH (, approximately worth 367 million ).