Whale deposits $53.1M in ETH to FalconX

An anonymous Ethereum (ETH) whale address starting with 0xFB7 deposited 29,000 ETH, worth $53.1 million, into FalconX approximately four hours ago, according to an analysis by Onchain Lens. Deposits to FalconX, a prime brokerage for institutional investors, are typically interpreted as an intention to sell. Onchain Lens estimates that the whale realized a profit of about $6.41 million from this transaction. The address currently holds 128,000 wstETH, valued at $282 million, and 58,066 USDT.