Whales redeemed and transferred 526,000 LPT to Binance, earning about $2.01 million

Odaily News According to Embers detection, an address redeemed 526,000 LPT (about 4.81 million US dollars) from the PoS staking contract of Livepeer (LPT) in the past hour and has transferred the batch of tokens to the Binance exchange.
On-chain data shows that these LPT tokens were previously withdrawn and staked from Binance at an average price of about $5.9 from February to April. LPT prices have continued to rise recently, with a cumulative increase of more than 55% in the past week. This operation is expected to realize a profit of about $2.01 million, which is suspected to be a whale or institution choosing to stop profit shipment.