PANews reported on July 9 that according to on-chain analyst Yu Jin’s monitoring, a whale/institution is suspected of using the staking service platform Arthapala to stake ETH, and has continued to transfer the redeemed ETH to exchanges through multiple associated addresses since June 11. A newly discovered address shows that it has redeemed 59,916 ETH (about 155 million US dollars), of which 25,000 ETH (about 63.37 million US dollars) have been transferred to CEXs such as HTX, Bybit, and OKX in the past 6 days.

Based on previous data, the whale/institution has redeemed a total of about 155,000 ETH, and has transferred a total of 120,000 ETH to CEX in the past month, worth about US$297 million.