Whale Buys 108K ETH Worth $283M via Galaxy Digital
A whale snaps up 108,278 ETH worth $283M OTC, linked to Galaxy Digital’s major exchange withdrawals.
- Whale bought 108K ETH in OTC deal worth $283 million
- Galaxy Digital withdrew 89K ETH before the transfer
- Whale wallet now holds 139K ETH worth $365 million
A mysterious crypto whale has made headlines after purchasing a massive 108,278 ETH—worth around $283 million—via an over-the-counter (OTC) transaction. According to blockchain analytics platform Lookonchain, the transfer was executed with the help of Galaxy Digital’s OTC services.
Over the past 12 hours, Galaxy Digital withdrew 89,000 ETH, approximately $233.5 million, from major exchanges. Shortly afterward, a large-scale transfer of 108,278 ETH was sent to a single wallet, signaling a likely OTC acquisition by a deep-pocketed individual or institution.
Wallet Balance Soars After ETH Acquisition
Following the massive transfer, the whale’s wallet now holds a total of 139,476 ETH, valued at about $365 million at current prices. This sudden accumulation has sparked speculation in the crypto community, with many wondering whether this could signal a long-term bullish outlook on Ethereum.
Large OTC purchases like this typically suggest strong institutional confidence, as they aim to avoid slippage and market disruption that comes with regular exchange trades. The connection to Galaxy Digital, a known crypto investment firm, adds further credibility and intrigue to the transaction.
What This Means for Ethereum Investors
Such large movements of ETH hint at a growing interest among whales and institutions. While short-term market impact may be limited due to the OTC nature of the trade, the long-term implications could be significant. It may also reflect growing anticipation around Ethereum’s future developments or overall market recovery.
For retail investors, it’s a reminder that Ethereum remains a key asset in institutional portfolios. As whale wallets grow, their movements could shape market trends in the coming months.
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