Is institutional capital continuing to reduce exposure to FET?

Address 0x268D just deposited 10M $FET ($1.85M) into Binance.

This wallet originally received 39.36M tokens from a BitGo custodian wallet on January 12 and immediately transferred 5M FET to Binance on the same day.

It is worth noting that the price has dropped approximately 35% between the first deposit (~$0.286) and this latest transaction (~$0.185).

The wallet still holds 24.36M FET.