The amount of ETH transferred by Yi Lihua to the exchange far exceeds what is needed for deleveraging, suspected to be a complete sell-off

Odaily News On-chain analyst Yu Jin posted on X, indicating that Yi Lihua's address appears not to be merely deleveraging but rather liquidating positions.

Currently, the relevant address has transferred 630,400 ETH ($1.294 billion) into Binance, leaving only 21,300 ETH ($43.94 million) on-chain. 96% of the ETH has already been transferred to the exchange, a quantity far exceeding what would be needed to sell for deleveraging purposes, so it is highly likely a complete liquidation is underway.