Well-known institutions close all positions in governance token, accumulating profits of 28.13 million USD.

According to on-chain data tracking, a well-known investment institution recently completed its final close all positions operation on a certain governance token. The institution transferred out the remaining 10 million tokens in the past 10 hours, worth approximately $7.42 million. It is expected that this batch of assets will gradually flow into several centralized exchanges in the coming days.

This institution initially purchased 70 million of the Token from the project's treasury through over-the-counter transactions at a price of $0.76 each four years ago. In November last year, the institution sold 50 million of them at an average price of $1.31. In the last 11 days, it has sold another 20 million at an average price of $0.79.

Overall, the average sale price for the institution's investment is $1.16. The overall investment profit was about 28.13 million US dollars, achieving a considerable return. This series of operations reflects the institution's investment strategy and market judgment on the project, and also provides a typical institutional investment case for the market.