Yi Lihua transferred far more ETH to the exchange than was needed to unleverage, suggesting he may be liquidating his entire position.

On-chain analyst Yu Jin posted on X that Yi Lihua's address appears to be not just unleveraging, but rather liquidating his entire holdings. Currently, the address has transferred 630,400 ETH ($1.294 billion) to Binance, leaving only 21,300 ETH ($43.94 million) on-chain. 96% of the ETH has already been transferred to exchanges, far exceeding the amount needed to unleverage, so it's highly likely he's liquidating everything. Last night, before starting the unleveraging process, Yi Lihua posted: "I've focused on investment and trading in the crypto world for 10 years. My conclusion is that profits come from bull markets, and drawdowns come from bear markets. Life is a long journey, and every stage will bring setbacks and unfortunate encounters. Like many years ago, when someone wrote a smear article and falsely accused me (may he remain in darkness forever), and I've experienced numerous failed investments, but my resilience has grown through hardship, and maturity comes from growth. May everyone maintain confidence and hope, and together we will get better."