According to @lookonchain, on-chain data shows wallet 0x3478, labeled as linked to Longling Capital, sold 7,000 ETH valued at about USD 31.82 million during the latest market drop, citing Arkham Intelligence explorer intel.arkm.com. According to @lookonchain, the wallet still holds 79,077 ETH valued at about USD 352 million after the sale, per Arkham Intelligence data referenced in the post. According to @lookonchain figures, the 7,000 ETH sold equals roughly 8.9 percent of the wallet’s remaining 79,077 ETH balance.

According to Lookonchain, wallet 0x3478 linked to Longling Capital sold 7,000 ETH worth 31.82 million dollars during the market drop and still holds 79,077 ETH valued at 352 million dollars, source: Lookonchain. The trade reduced the position by about 8.1 percent from roughly 86,077 ETH to 79,077 ETH, with the reported figures implying an average sale price near 4,546 dollars per ETH, source: Lookonchain. The address continues to control approximately 352 million dollars in ETH, about 11.3 times the amount sold, a concentration level traders may monitor for further flows, source: Lookonchain.

According to Lookonchain, a wallet associated with LonglingCapital transferred 20,000 ETH (worth $50.3 million) to wallet '0x3478' after being inactive for nearly two years. LonglingCapital was previously liquidated on-chain for 93,793 ETH ($114 million) during the market crash on June 14 and June 15, 2022. The destination wallet '0x3478' appears to belong to an undisclosed entity.