Galaxy Digital, the cryptocurrency investment company led by Michael Novogratz, sent 25,000 Ethereum tokens to Binance Exchange in the last three days.
The huge transfer of digital assets, which amounts to more than $ 40 million, occurs a short circuit after the company has resolved a major market manipulation.
Huge Ethereum transfers raise market issues
Based on the blockchain information, Galaxy Digital has launched a series of individual transactions in Binance. The last decision involved 2,500 ETH worth $ 4.05 million and an additional $ 10,000, worth $ 16.32 million.
These were preceded previous transfers on April 12, when the company moved 4,500 ETH ($ 7.11 million) and 8,000 ETH ($ 12.63 million) on the same platform.
Ethereum Price fell during the activity. He retired from $ 1,675 on April 14 to $ 1.63 when this report was made. Market analysts indicate that, in particular during a very small period of time, such bulky institutional professions can really influence commercial behavior and market prices.
Galaxy Digital filed 12,500 others $ ETh($ 20.36 million) #Binance 5 hours ago.
It’s 25,000 $ ETh($ 40 million +) moved to #Binance in just 3 days. pic.twitter.com/tbthimgwwo
– Lookonchain (@lookonchain) April 15, 2025
However, the company did not stop in Ethereum. According to transaction records, Galaxy Digital has also transferred large amounts of stablescoins to Binance, such as 5 million USD. USDC 100,000 and $ 1,000 in avalanche tokens (AVAX) were moved by the company.
The data of the Arkham intelligence platform indicate that after these transfers, the remaining positions of Galaxy Digital have dropped considerably. The company now holds only 199.790 ETH (equivalent to around $ 328,476) and 18,150 AVAX tokens (equivalent to around $ 363,181). Their Stablecoin reserves are made up of 4.200 million DAI and 3,750 million USDC, or nearly $ 8 million.
ETHUSD trading at $1,643 on the 24-hour chart: TradingView.com
Trading activity of recent legal settlement shadows
The moment of these enormous cryptographic transactions arises the recent legal problems of Galaxy Digital. The company agreed to pay $ 200 million to resolve a case with the New York Attorney General on Luna Token Trading.
The prosecutors allegedly alleged that Galaxy Digital had marketed Luna after having locked an agreement to buy the tokens at prices reduced in 2020. As Luna’s price increased, the company ceased its assets without disclosure, making hundreds of millions of dollars in profits.
Market observers monitor institutional behavior
These mass movements have aroused the interest of market observers in the cryptography market. When an institutional investor such as Galaxy moves so suddenly massive sums, it tends to stimulate wider market responses.
Some analysts demand the moment immediately after a high-level legal settlement to be significant. Whether it indicates that the normal rebalancing of the portfolio or a more measured difference in Ethereum does not remain clear.
Pixabay star image, tradingview graphic
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