Whale's Massive ETH Transaction Revealed: The Story Behind $47.47 Million Asset Transfer

According to Onchain Lens, on February 27, an OTC whale transferred 23,500 ETH worth approximately $47.47 million to FalconX. This move aims to sell assets and repay outstanding loans.

Diverse Crypto Holdings of the Whale

Despite this significant transfer, the whale maintains substantial crypto holdings, including:

• 4,000 cbBTC (worth about $269 million)
• 120,380 stETH (worth about $243.27 million)
• 29,727 WETH (worth about $60.16 million)

In addition, the whale has borrowed 97.26 million USDT via Aave, highlighting their involvement in decentralized finance (DeFi).