Movement Alert|Galaxy Digital Falls 5.07% in Regular Trading, Crypto Whale ETH Deposit Sparks Continued Selling Pressure Concerns

Market Focus06-24

On June 24, Galaxy Digital fell 5.07% in regular trading, trading at $29.575/share, with turnover of approximately $30.52 million.

On the news front, on-chain data revealed that BitMEX co-founder Arthur Hayes recently deposited 6,000 ETH, valued at approximately $10.14 million, to OTC platforms FalconX and Galaxy Digital. Large-scale transfers of crypto assets to OTC trading platforms are widely interpreted as potential sell signals, raising investor concerns over liquidity pressure in the broader crypto market. The event, first reported on June 19, has continued to weigh on Galaxy Digital's stock price over multiple sessions.

As a global market-maker and custody services provider in the digital asset space, Galaxy Digital's performance is closely tied to crypto market conditions. The bearish sentiment was further amplified by broad weakness across the asset management sector, with BlackRock down 3.97%, Blackstone down 3.13%, Carlyle down 3.02%, and Ares Management down 2.66%, creating sector-wide downward pressure.

(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.)

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