PANews reported on August 4th that, according to on-chain analyst @ai_9684xtpa, "smart money that bought WBTC low and sold it high for a profit of $14.26 million" is suspected of selling 38,582 ETH (US$138 million) over the past week, a profit of $36.57 million. This operation suggests that this address may belong to an institution, which has withdrawn a total of 77,700 ETH (US$202 million) from Kraken since the beginning of the year, at an average price of only US$2,600. Currently, 25,054 ETH remains on-chain, mostly in Aave.