smartestmoney.eth responded: A large amount of ETH has been deposited into CEX for base currency long positions

ChainCatcher message, the whale smartestmoney.eth responded that sending a large amount of ETH to CEX was not for stop-loss selling, but actually "sending ETH to the trading platform to double down on long positions, rather than selling as people think. Once profits are locked in, I will transfer them back to my on-chain wallet at high points, which is usually the best exit timing for ETH.

I use CoinM (inverse perpetual contract) as a last resort to double down on long positions. This usually gives me the highest win rate and best entry point, ultimately bringing me maximum profit."

Previously reported by ChainCatcher, according to on-chain analyst @ai_9684xtpa's monitoring, smartestmoney.eth chose to cut losses.

Reportedly he built up 8127 ETH between June 19th - June 21st and recharged Binance with 3000 of them (about $10.27 million) an hour ago. If all sold out it would result in nearly $400k loss; remaining 5127 still floating loss of $750k.