Sigil Fund transferred 1.47 million LDO to Binance. If sold, it would realize a loss of $1.44 million

According to on-chain analyst Ember, Sigil Fund, an investment institution, transferred 1.47 million LDO to Binance 20 minutes ago, worth about $1.56 million, and selling it will result in a loss of $1.44 million. Sigil Fund bought these LDOs at $2.04 through on-chain purchases and Binance withdrawals from April to November 2023. Now it is transferred to the exchange at $1.06, and is expected to achieve a loss of $1.44 million (-48%).