PANews reported on March 8 that according to monitoring by on-chain analyst Yu Jin, the whale/institution that received the most ETH in the Genesis Trading liquidation compensation in August last year may have used part of the funds to purchase PHA after selling 40,000 ETH: 16.88 million PHA (US$2.18 million) were received from FalconX 7 hours ago.

The whale/institution transferred 10,000 ETH to FalconX last time, and later only withdrew 19.49 million USDC from FalconX. The remaining funds may have been used to purchase the 16.88 million PHAs (US$2.18 million) through FalconX.