This wasn’t a panic sell. It was slower, quieter — and just as painful.

Over the past three hours, address 0xa92…7611e methodically unloaded 230,350 , distributing the sell-off in small batches that together totaled around $38 million. As the selling progressed, the wallet didn’t stay in cash. Instead, the capital was rotated into mainstream blue chips -- $stETH and , at an average cost basis of roughly $223.4.

The damage, however, was already locked in. This rotation came with a realized loss exceeding $13.44 million.

The market felt it too. During the sell pressure, #AAVE slid as low as $156.2, marking a maximum drawdown of 11.48% before buyers stepped back in. At the time of writing, price has rebounded to around $162.6, but the distribution phase left a clear footprint on the chart.

📍 Add:
0xa923b13270f8622b5d5960634200dc4302b7611e

In crypto, exits don’t always come at the top, but they always tell a story.