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Galaxy Digital moves $104M in ETH to major exchanges, sparking selloff fears.

Market News
28 Apr 2026
Bitcoin
View Source
Bearish
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Galaxy Digital transferred about 45,000 ETH worth over $104 million to Binance, Bybit, and OKX within 15 hours on April 28, signaling potential institutional selling pressure on Ethereum. This follows previous ETH deposits totaling nearly 50,000 ETH to exchanges and a withdrawal from Aave, indicating unwinding of lending positions. While some firms like Bitmine are aggressively staking ETH, these large exchange inflows suggest increased supply and market uncertainty. Galaxy Digital has not commented on these transactions, leaving investors cautious about ETH's near-term outlook.

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