Data: A whale that previously shorted ETH for a profit of 23.31 million USD has switched to increasing its position, withdrawing over 174,000 ETH from Binance within the day

According to crypto analyst Yu Jin @EmberCN, a whale/institution that previously shorted 66,000 ETH and made a profit of about 23.31 million USD is suspected of completing a round-trip operation recently.

About 1.5 hours ago, it transferred 91.2 million USD USDC to Binance, and then withdrew 110,000 ETH (approximately 386 million USD) from Binance. Adding the previously repaid 64,000 ETH short position, this address has withdrawn approximately 174,100 ETH (about 621 million USD) from Binance in the past 24 hours, indicating that its position has fully shifted to spot or long configuration.