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A whale address beginning with 0x4ce that bought 10,501 ETH worth $20 million about a month ago appears to have fully cashed out, according to on-chain analyst EmberCN.
EmberCN said the whale deposited a total of 10,501 ETH to Binance in two transactions on Aug. 20 at 3:25 a.m. UTC and 2:36 p.m. UTC, sending 5,250 ETH each time. Exchange deposits are typically interpreted as a move to sell, and the whale then withdrew a corresponding amount of USDC shortly after depositing the ETH.
The whale bought 10,501 ETH on July 21 at an average entry price of $1,904, and the sale is estimated to have generated a profit of about $3.7 million in a month.