According to Spot On Chain monitoring, the largest holder address of WHITE (starting with 0x117) received 21,625 ETH (currently worth US$44.3 million) from the Hegic: Development Fund address on October 8. Whiteheart (WHITE) is an on-chain hedging protocol based on Hegic. Therefore, the whale address most likely belongs to the development team.
According to previous news, according to Spot On Chain monitoring, the whale address starting at 0x117 exchanged 1,171 ETH (approximately $2.4 million) for 2,900 WHITE, causing the token price to surge by 764.78%. The giant whale is now the largest holder of WHITE.