a16z liquidates all COMP holdings, transferring 800,000 tokens to CEX within 10 days

Odaily Planet Daily reported that, according to Ember monitoring, an a16z-associated address transferred its remaining 400,000 COMP (worth approximately $16.48 million) to an exchange three hours ago, completing a full liquidation. Previously, at the end of last month, they had already transferred 400,000 COMP to an exchange. In total, 800,000 COMP, valued at about $34.81 million, have been transferred to the exchange within 10 days.
Before and after the transfers, the price of COMP dropped from $46 to $41, a decline of about 11%. This latest large-scale transfer may further impact the price of COMP.