According to on-chain data and analyst Ai Yi, a Galaxy Digital OTC-linked wallet sent 21,369 ETH worth about $49.3 million to exchanges after a prior 38,000 ETH withdrawal from Aave drew scrutiny.
A wallet linked to Galaxy Digital’s over-the-counter trading desk transferred 21,369 ETH to exchanges over the past 24 hours, according to on-chain data and analyst Ai Yi. The deposits were worth about $49.3 million, with an average deposit price of $2,307.34 per ETH. Earlier reporting had highlighted a 15,000 ETH exchange deposit worth about $34.74 million from the same OTC-linked wallet; the newer report indicates the total sent to exchanges over 24 hours reached 21,369 ETH. The funds were traced to a 38,000 ETH withdrawal from Aave made about a week earlier, on the same day as the Kelp DAO attack and amid reports of suspected bad debt at Aave. The source does not confirm whether the exchange inflows were intended for a sale, hedging, settlement, market-making, or internal treasury management, but such transfers are closely watched for signs of liquidity repositioning or potential trading activity.