Whale sells ETH at a loss after 3 months, facing estimated $2.4M loss

An anonymous whale address starting with 0x5ACE has sold 2,540 ETH, worth $5.56 million, at a loss after holding the position for three months, Lookonchain reported. The address deposited the assets to Binance three hours ago, with the sale expected to result in a $2.4 million loss. Deposits to exchanges are typically interpreted as an intention to sell.