Institutions suspected of large-scale ETH sell-off, totaling approximately 154,300 tokens.

According to on-chain analyst Ember (@EmberCN), a suspected institutional address is gradually transferring approximately 154,300 ETH (worth roughly $378 million) to exchanges for sale. Over the past day, it has already transferred 52,739 ETH (approximately $129 million) to six CEXs including Binance and OKX, leaving 101,561 ETH (about $249 million) currently in the address. It is reported that the aforementioned ETH was withdrawn from Coinbase at an average price of around $1,700 between 2021 and 2022, staked in Ethereum in 2023, redeemed in January 2025, and then consolidated into two wallets. Recently, it has begun transferring funds sequentially to multiple CEXs.