On July 9, CoinWorld reported, according to on-chain analyst Yu Jin's monitoring, a certain whale/institution is suspected of using the staking service platform Arthapala for ETH staking, and has been continuously transferring redeemed ETH to exchanges through multiple associated addresses since June 11. The latest discovered address shows that it has redeemed 59,916 ETH (approximately 155 million USD), of which nearly 25,000 ETH (about 63.37 million USD) has been transferred to CEXs such as HTX, Bybit, and OKX in the past six days.

Based on previous data, this whale/institution has redeemed a total of approximately 155,000 ETH and has transferred as much as 120,000 ETH to CEXs in the past month, worth about 297 million USD.