OnchainLens, a on-chain data monitoring account, quoted Arkham data showing that on the 23rd, the well-known crypto asset management firm Abraxas Capital (Heka Funds) transferred crypto assets worth a total of $223 million to major exchanges within a brief 7-hour window. After deducting withdrawals made during the same period, the net inflow was as high as $197 million. This included more than 2,200 BTC and 30.8k ETH. The massive whale transfer triggered lively discussion in the community about potential short-term sell pressure in the market.