TREE NEWS reports: A whale received 4,892 ETH worth about $11.85 million from Galaxy Digital’s over-the-counter desk over the past two months, then returned 4,637 ETH valued at roughly $10.1 million, including 1,796 ETH worth about $3.42 million sent back today, on-chain data shows. The whale has now disposed of 95% of its ETH position and holds 255 ETH, worth about $483,000, for an estimated loss of $1.27 million.
Whale Returns 4,637 ETH to Galaxy Digital OTC, Losing $1.27M
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AI take
The notable detail is the direction of flow: ETH moving back into an OTC desk rather than out to an exchange, which points to a counterparty unwinding a position rather than a market-wide sell signal. The realized loss is modest relative to the size of the original allocation, suggesting a risk-reduction exit rather than capitulation. What matters for RWA and broader ETH watchers is whether other large OTC-sourced holders follow the same pattern of returning inventory, and whether Galaxy's desk sees continued inbound ETH from similar wallets.
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