Hua Ge's move was truly insider-level accurate. He'd just liquidated his positions in the morning, and the market started to plummet in the afternoon.
Let's first look at the on-chain data:
Trend Research, an affiliate of LD Capital, withdrew 16,800 ETH from Aave this morning, worth approximately $72.88 million.
Then they unstaked and exchanged their stETH for native ETH.
Finally, they dumped the entire package onto Binance.
At this point, the large investor who originally purchased 152,000 ETH at a cost of $2,869 has almost completely liquidated their holdings. Address 0x900…4b53b now holds only 214.8 ETH.
Which do you believe: insider information or coincidence?