PANews reported on November 16th that, according to on-chain analyst Yu Jin, whales/institutions who previously profited $24.48 million from shorting ETH and then went long transferred 44,000 ETH ($140 million) to Binance early this morning. Over the previous few days, they accumulated 444,800 ETH ($1.51 billion) at an average price of $3,398, and also leveraged their holdings with 1.5x leverage. They are now facing a paper loss of $110 million on their ETH holdings.