A suspected institutional whale withdrew 20,000 ETH from Binance, worth approximately 78.15 million USD

According to Yu Jin, a suspected institutional whale that mortgaged 700 million USDC to borrow 66,000 ETH and transferred it to Binance about half a month ago may have completed an ETH short-selling operation.

The address withdrew 20,000 ETH from Binance an hour and a half ago, worth approximately 78.15 million USD, and is suspected to have started to cover. The ETH price when the short position was opened was 4,032 USD, and the current price is 3,850 USD, with an expected profit of about 12 million USD from this operation.