Whale reportedly sells 30,000 ETH for $55M via Galaxy Digital at $1,833

AI Market Summary

A large holder reportedly sold 30,000 ETH (~$55M) via Galaxy Digital OTC at ~$1,833, converting proceeds to USDC. While OTC execution can reduce immediate exchange impact, the flow signals institutional-scale distribution and potential supply overhang around that level. The USDC settlement highlights risk-off positioning within crypto, which can weigh on near-term ETH sentiment and liquidity conditions.

Impact level

● Medium

Affected assets

ETH/USDT+1.00%

AI Insight · ETH/USDTAI Insight

▼ Bearish

Trade now

⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.

Odaily Planet Daily reported that on-chain analyst Yujin flagged a suspected whale or institutional player selling 30,000 ETH through Galaxy Digital at about $1,833 per token, for an estimated $55 million. The wallet sent 30,000 ETH to a Galaxy Digital OTC address roughly seven hours ago and received around 55 million USDC about three hours later, implying an execution price near $1,833 per ETH.

Disclaimer: The content above is only the author's opinion and does not represent BingX’s stance. It shall not be construed as investment advice from BingX. For details, refer to the Terms and Conditions.

Risk Warning

Cryptocurrencies and their derivatives are innovative financial products with great volatility and high investment risks.

Although BingX is committed to providing users with easy-to-use trading tools, trading itself is still a highly sophisticated field. Trading digital assets and their derivatives are subject to high market risk and price volatility and may result in partial or total loss of account funds. You must carefully consider and exercise clear judgment to evaluate your financial situation and the aforementioned risks before using BingX Services. You shall be responsible for all losses arising therefrom. If necessary, please consult relevant professionals to make informed decisions before investing. By accessing, downloading, using or clicking on "I agree" to accept any BingX Services provided by BingX, you agree that you have read, understood and accepted all of the terms and conditions stipulated in BingX Terms of Use as well as our Privacy Policy.

Trading by copying or replicating the trades of other traders involves a high level of risks, even when copying or replicating the top-performing traders. Past performance of a BingX community member is not a reliable indicator of his future performance. Content on BingX's trading platform is generated by members of its community and does not contain advice or recommendations by or on behalf of BingX.