Mysterious Whale May Be Dumping Over 13,000 ETH via Galaxy Digital

Whale's ETH Dump Sparks Market Attention

According to the latest data from blockchain monitoring platform Lookonchain, a major ETH holder is transferring a total of 13,000 ETH through Galaxy Digital's OTC wallet. The total value of the transfer, based on current market prices, is as high as $41.75 million.

Funds Transfer Route Revealed

Data shows that Galaxy Digital's OTC wallet has moved 13,000 ETH, of which 6,500 has already been deposited into major exchanges including Binance, Bybit, and OKX. This has triggered market concerns over the possibility of continued selling by the whale.

Market Reaction and Future Outlook

Although this large-scale movement has not yet significantly impacted the price of ETH, investors are advised to remain vigilant and closely monitor on-chain activity to prepare for potential market volatility.