TREE NEWS reports: A whale or institution sold its final 10,000 ETH over the counter through Galaxy Digital five hours ago, fully exiting a position of 52,000 ETH. The entity accumulated the 52,000 ETH between July and September at an average price of $2,161 and has been selling since late September at an average of $2,632, netting a $24.49 million profit.
Whale Clears 52,000 ETH via Galaxy Digital OTC, Booking $24.49M Profit
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AI take
The significance lies less in the profit than in the exit route: a 52,000 ETH position unwound through OTC rather than spot markets, which kept the selling from printing on the tape. That pattern matters because it means visible spot volume can understate real distribution by large holders, leaving order books looking calmer than the underlying flow. The open question is whether other July-to-September accumulators from the same price band follow with similar OTC exits, or whether this marks the tail end of that cohort's supply overhang.
Generated by AI for reference only.
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