Movement Alert｜Galaxy Digital Falls 6.28% in Regular Trading, Large ETH Deposit by Crypto Whale Sparks Selling Pressure Concerns

Market Focus06-23

On June 23, Galaxy Digital fell 6.28% in regular trading, trading at $32.53/share, with turnover of approximately $53.33 million.

On the news front, on-chain data revealed that BitMEX co-founder Arthur Hayes deposited 6,000 ETH, valued at approximately $10.14 million, to OTC trading platforms FalconX and Galaxy Digital. Large-scale transfers of crypto assets by major holders to OTC platforms are typically interpreted by the market as a potential sell signal, raising concerns over liquidity pressure in the broader crypto market.

Galaxy Digital, as a global market maker and custodian in the digital asset space, derives its performance from crypto market activity. The company operates across trading, principal investments, asset management, investment banking, and mining segments, offering OTC spot liquidity, derivatives execution, and structured products to institutional clients. With market sentiment weakening amid whale selling fears, the stock faced direct downward pressure given its high correlation to overall crypto market conditions.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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