PANews reported on November 28 that according to monitoring by on-chain analyst Ember, a large whale or institution transferred its last 120,800 GMX (about 3.63 million US dollars) to Binance and completed the sale in the past 15 minutes, causing the price of GMX to fall again from US$30 to US$28.5.

Data shows that the whale or institution sold a total of 388,000 GMX (about 12.13 million US dollars) today. This liquidation operation resulted in a loss of 5.82 million US dollars and had a significant impact on the price of GMX.