A giant whale liquidated his 14,387 ETH holdings for a loss of $12.55 million

A whale liquidated its holdings of 14,387 ETH (worth about $34.48 million) in the last 3 days for a loss of $12.55 million, Chain Analyst Aftermath monitored. The whale raised 14,384 ETH (~$47.33 million) at an average price of $3,290 from Coinsafe between 6/22-8/4 and deposited it into Lido Pledge. Then the market plummeted on 8/5, which may have made him lose confidence, and started redeeming ETH from Lido in batches and transferring it back to CoinSafe on the evening of 8/5. An hour ago, the last 5,000 ETH was transferred into CoinSafe, raised from CoinSafe at an average price of $3,290, and transferred back into CoinSafe at an average price of $2,417. He may have lost $12.55 million (-26.5%) on this ETH investment.