PANews reported on February 1st that, according to on-chain analyst Ai Yi, some large ETH holders are panic selling at a loss.

• ETH swing trading whale nemorino.eth: In the past 9 hours, it liquidated all of its WETH holdings at an average price of $2,514.85. The cost basis for these 7,107.08 WETH was as high as $3,045.24, resulting in a loss of over $3.769 million from this sale.
• A whale that profited $14.26 million by buying low and selling high with WBTC: In the past 6 hours, it has deposited a total of 3,500 ETH, worth $8.42 million, into multiple exchanges, with an average deposit price of $2,406.