Galaxy Digital, an investment company in the encrypted currency, led by Michael Novugratz, has sent 25,000 ethereum Icons to Binance Exchang in the past three days.
The huge conversion of digital assets, which reaches more than $ 40 million, occurs, a short period after the company has resolved a large processing suit on the market.
Huge ETHEREUM transfers raises market questions
Based on Blockchain information, Galaxy Digital started a series of individual transactions Binance. The last step included 2.05 million dollars and an additional $ 10,000 ETH at a value of $ 16.32 million.
These previous transfers preceded April 12, when the company transferred 4,500 ETH ($ 7.11 million) and 8000 ETH (12.63 million dollars) to the same platform.
The price of ETHEREUM decreased during activity. It fell from $ 1,675 on April 14 to $ 163 when this report was presented. Market analysts indicate that, especially during the very small time frame, these huge institutional deals can affect trading behavior and market prices.
Another Galaxy Digital 12500 $ ETH(20.36 million dollars) to # 5 hours ago.
This is 25000 $ ETH(40 million dollars+) moved to # In just 3 days.https://t.co/wm3zrhpax pic.twitter.com/tbthimgwo
– Lookonchain (@swearonchain) April 15, 2025
The company did not stop at ethereum. According to transactions, Galaxy Digital also transferred large quantities of stablecoins to Binance, like 5 million in USDT. $ 100,000 USD and $ 1,000 of distinctive symbols (AVAX) have been transferred by the company.
Intelligence platform Arkham data It indicates that after these transfers, the remaining positions of the Galaxy Digital have dramatically decreased. The company now owns only 199,790 ETH (equivalent to about 328,476 dollars) and 18,150 Avax symbols (equivalent to about 363181 dollars). Their Stablecoin Reserves consist of 4.200 million Dai and 3.750 million US dollars, which is approximately $ 8 million.
ETHUSD trading at $1,643 on the 24-hour chart: TradingView.com
The recent legal shadows circulation activity
The timing of these huge encryption transactions comes in the aftermath of the modern Galaxy Digital Legal issues. The company agreed to pay 200 million dollars to resolve a case with the New York Prosecutor to trading Luna Token.
Prosecutors claimed that Galaxy Digital marketed a color after a deal to buy symbols at reduced rates in 2020. With a high price of color, the company is supposed to have cast its shares without disclosing, making hundreds of millions of dollars in profits.
Market monitors monitor institutional behavior
These mass movements attracted the interest of market monitors in the encryption market. When a founding investor like Galaxy moves such huge amounts suddenly, it tends to stimulate the market responses on a larger scale.
Some analysts claim timing immediately after a high -level legal settlement may be important. Whether this indicates a rebalancing the regular wallet or more compared to Ethereum is still unclear.
Distinctive photo of Pixabay, tradingvief chart
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