A certain whale holder has sold another 5,000 ETH today in exchange for 14.7 million USDC. This kind of operation is not an exception—over the past 12 days, this major holder has been steadily reducing their position, with ETH holdings shrinking from an initial 50,000 to just 10,000. They have sold over 40,000 ETH in total, with an average transaction price around $2,917, realizing a profit of $15.1 million.

From the changes in holdings, this whale has adopted a phased selling strategy, which can both digest large positions and reduce slippage risk. Recently, ETH volatility has increased, and the reduction in holdings by large investors often reflects a shift in market sentiment. This operation is significant in scale and warrants attention to the subsequent actions of on-chain major holders.