PANews reported on July 9 that according to monitoring by on-chain analyst Yu Jin, 3 hours ago, crypto VC a16z Crypto transferred the last 400,000 COMP (US$16.48 million) in the address to Coinbase Prime, clearing their COMP holdings.

They transferred 400,000 COMP to Coinbase Prime at the end of last month, and transferred another 400,000 today. In 10 days, 800,000 COMP were transferred to Coinbase Prime, with a value of up to 34.81 million US dollars.

When they transferred out 400,000 COMP 10 days ago, the COMP price was still at $46, and now the COMP price is only $41, a drop of 11%. Now another 400,000 COMP has been transferred out, which may cause the COMP price to drop further.