Chun sells 6,200 wstETH for $18.5m USDC in on-chain trade
On-chain analytics service Lookonchain tracked the transaction, which saw the prominent investor move out of the liquid staked ether variant into stablecoins.
Key takeaways
- 1Chun sold 6,200 wstETH for 18.5 million USDC on 4 November 2026
- 2Lookonchain tracked the transaction on-chain 10 hours before reporting
- 3USDC maintains a $70.9bn market cap and ranks as the sixth-largest cryptocurrency
Chun, the investor known as satofishi, sold 6,200 wrapped staked ether (wstETH) for 18.5 million USDC on 4 November 2026. The trade occurred on-chain approximately 10 hours before Lookonchain reported the activity on Thursday morning.
Lookonchain, the on-chain analytics service that tracked the wallets, identified the transaction as a significant liquidation of the staked ether position. The sale converted the interest-bearing asset into USDC, a dollar-pegged stablecoin. This specific trade involved a large volume of wstETH, which is a derivative of ether that accrues staking rewards while remaining liquid for trading.
Wrapped staked ether is used by investors to maintain exposure to ethereum staking without locking up their capital. USDC is currently the sixth-largest cryptocurrency with a market value of $70.9bn, according to YourKhabri data. Chun is considered a high-net-worth individual in the crypto sector, and his large-scale transactions are frequently used by analysts to track shifts in whale sentiment.
Large sales of staked assets can suggest that major holders are moving into defensive positions or preparing for a change in market conditions. Traders will watch for similar movements from other large wallets to determine if this sale represents a broader trend of profit-taking. Market participants will also monitor whether the liquidity in decentralised exchanges can absorb such large trades without significant price slippage.
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Reported and edited by the YourKhabri desk under our editorial policy. Nothing here is investment advice.