"Galaxy Digital's recent deposits of approximately 45,000 ETH into major exchanges signal a potential shift in institutional sentiment, as the firm prepares assets for possible sale rather than internal management."
"The total inflows of nearly 50,000 ETH in April from Galaxy Digital, alongside significant staked positions by firms like Bitmine, illustrate a complex landscape of institutional strategies regarding ether."
Galaxy Digital deposited approximately 45,000 ETH, valued over $104 million, into Binance, Bybit, and OKX, indicating potential institutional selling pressure. The deposits are part of a larger trend, with Galaxy Digital's total ETH inflows nearing 50,000 ETH in April. Onchain data shows these deposits originated from wallets linked to Galaxy Digital, suggesting preparation for asset sales. Concurrently, Bitmine holds nearly 100,000 staked ETH, reflecting divided institutional sentiment on ether. The situation highlights a growing pattern of ether distribution among institutions.
Read at news.bitcoin.com
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