A whale deposited 5,000 ETH into Kraken to cut its losses, and lost $200,000 within two months.

CoinFeed reported on June 2nd that, according to Lookonchain monitoring, as ETH continued to fall, whale 0xc1b6 deposited 5,000 ETH (US$9.8 million) into Kraken when ETH fell to $1,960 to cut its losses. This whale had bought 5,003 ETH (US$10 million) at $1,999 two months prior; selling them would have resulted in a loss of US$200,000.