PANews reported on November 28 that according to monitoring by on-chain analyst Yu Jin, in early June, a giant whale or institution purchased 302,000 GMX (approximately US$13.47 million) through 6 addresses at an average price of US$45, which pushed the price of GMX up by 12% at the time.
Six hours ago, four addresses of this whale/institution transferred a total of 267,000 GMX (about $850) to Binance for sale, which dropped the price of GMX from $33 to $28, a 14% drop.
Bought in June at $45 and now sold at ~$30, this whale/institution has lost $4 million on GMX.
