But why move that many to an exchange in one go at all? If you plan on drip selling them, why risk putting them all on an exchange at once? Moreover, why signal to the market that you are about to sell a huge quantity and risk depressing the price?
This seems a bit like a sell wall strategy. You put it up to scare people away from buying, in the expectation that the sell wall will go lower and drop the price with it.
Could our whale just be using a creating way to scare the market into not buying, allowing them to accumulate more? Perhaps we will see a big sell wall appear on Polo soon?