Data: A giant whale site sold 44.81 million USDCs again, a total of 118.73 million USDCs

It is reported that according to the data monitoring of Lookonchain, a giant whale site that previously held 120 million USDCs sold another 44.81 million USDCs after selling 73.92 million USDCs. At present, the address has sold 118.73 million USDCs and exchanged 1.0567 USDTs and 2756 ETHs (about 3.98 million US dollars). The institution still holds about 45 million USDCs.

Interpretation of this information:

The message is about a big player, called a “whale,” which has been selling large amounts of USDCs (a type of stablecoin pegged to the US dollar) on a site called Lookonchain. This whale already sold 73.92 million USDCs before, and now it has sold another 44.81 million USDCs, bringing the total to 118.73 million USDCs sold. The whale then exchanged the USDCs for 1.0567 USDTs and 2756 ETHs, which is approximately worth $3.98 million. The whale site still holds approximately 45 million USDCs.

Stablecoins are digital assets that aim to maintain a stable value relative to a specific asset, like a fiat currency or commodity. USDC is pegged to the US dollar, meaning that for every USDC in circulation, there should be an equivalent USD deposited in a bank account. This way, USDC can offer a stable store of value, a medium of exchange, and a safe haven asset during market fluctuations.

However, the fact that a whale site is selling such a large amount of USDCs suggests that there might have been a large price shift in the market. Market participants could be selling their USDC to move into other investments or to take profits. This selling pressure could potentially point to a bearish sentiment, where investors anticipate the value of USDC or other crypto-assets to decline over time.

On the other hand, the fact that the whale site still holds 45 million USDCs suggests that the market is still stable enough for them to keep a sizable amount of their savings in the digital asset. It could also mean that the whale site anticipates a future price increase in USDC or wants to keep its investment diversified across different assets in the crypto market.

In summary, the three keywords that capture the essence of this message are: stablecoin, whale site, and selling pressure. The selling pressure in USDC that the whale site is causing could be a sign of a bearish market sentiment or simply a market shift towards other assets. However, the fact that the whale site still holds a sizable amount of USDC suggests that the market is still stable enough for some investors to keep their assets in digital form.