Galaxy Digital Deposited 49,681 ETH into CEXs: Is Another Selloff Coming? | Coinspeaker Trending Global News

Major note

• Galaxy digital movements indicate in a possible sales.
• It can push Eth below the mark of $ 1,600.
• ETH-based ETFs also struggle, strengthening the feeling of recession.

Galaxy Digital, a Crypto Investment Service Provider, Atherium depositing

ET
$ 1 600



24h instability:
1.6%


market cap:
$ 193.20 B



Volume. 24h:
$ 12.96 B

In the top cryptocurrency exchanges, benns and coinbase.

According to an X post by Lukanchen, Galaxy Digital sent a total of 49,681 ETHs of approximately $ 80 million for Bainens and Coinbase between 12 and 17 April. The deposit firm’s over-the-counter (OTC) came from the wallet, which is still $ 11.8 million in different crypto assets.

Galaxy Digital Deposit 49,681 $ Eth($ 79.37m) #Binance And #Coinbase In the last 5 days. pic.twitter.com/S12bgwssch

– Lukanchain 17 April, 2025

Strong exchange deposits can negatively affect the market spirit because some investors will probably be involved in the celloff.

Despite the recent exchange deposits, Galaxy Digital is still $ 538.6 million in cryptocurrency. Its biggest holding in bitcoin is $ 329 million

BTC
$ 84 605



24h instability:
1.1%


market cap:
$ 1.68 t



Volume. 24h:
$ 24.58 B

$ 89.5 million in Ethereum, $ 36.2 million in USDT and $ 29.7 million in USDC.

The movement of Galaxy Digital may indicate in front exchange deposits and potential celloffs.

Galaxy Digital’s sister company, Galaxy Ventures, allegedly raised $ 150 million to support the initial stage crypto startups and according to Bloomberg, plans to add $ 25 million to $ 30 million to $ 30 million in the fund.

On 10 April, Galaxy Digital signed a 200-megavot deal with Artificial Intelligence Infrastructure provider Koravivev, indicating converting its crypto-marking site in Texas to host the AI-related GPU.

Will the Ethereum (Eth) price fall again?

Ethereum (Eth) Price Movement will depend on wide crypto market movements.

However, it is important to note that the major altcoin has been struggling to break its psychological $ 2,000 barrier over the last three weeks.

On 11 April, when Eth was trading around $ 1,550, the on-chain intelligence firm Santiments indicated on the bullish signal of the atherium.

Three days later, Etharium recorded a high amount of whale movements, priced from $ 1,550 to about $ 1,700. On 15 April, however, the whale began to shut down Eth, its price was sent back below the level of $ 1,600.

If the current movements by Galaxy Digital have triggers the whale celloff, the atherium will probably fall below the $ 1,550 support area.

The US-based spot ETH exchange-traded funds have also been recording outward outflows from 7 April. As Statistics from Ferrside investorsThese investment products saw a net outflow of $ 12.1 million on 16 April.

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