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Galaxy OTC Flow Continues , More $ETH Heading to Exchanges.
the flow hasn’t slowed down. wallets linked to Galaxy Digital’s OTC desk have now moved a cumulative 21,369 #Ethereum (~$49.3M) onto exchanges over the past 24 hours, with an average deposit price around $2,307.
this kind of steady transfer pattern usually isn’t random.. it suggests structured activity rather than a one-off move: could be OTC distribution across venues, client-related selling being executed in batches or gradual liquidity positioning to avoid market impact.... still, even if it’s not outright dumping, consistent inflows like this do: increase available supply on exchanges, create a subtle layer of sell-side pressure and keep traders cautious in the short term. it’s not panic… but it’s definitely not accumulation either, more like controlled distribution happening in the background.
Here is the address:
0x16F6d15381bEE4A25B25F0d1C4161b78f7F21Fde