Galaxy Digital Sends ETH Worth $104 Million to Bybit, Binance and OKX, Sparking Selloff Concerns

Apr 28, 2026

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Key Takeaways:

Galaxy Digital deposited 45,000 ETH worth over $104 million to Binance, Bybit, and OKX on Tuesday. Galaxy Digital’s April ETH exchange inflows approach 50,000 ETH across multiple transfers. Bitmine holds 98,352 staked ETH as institutional conviction on ether remains split. A Pattern of Exchange Inflows Image source: X ETH Under Pressure

Simultaneous large exchange deposits from Galaxy Digital have seemingly sent a contradictory signal to market participants watching institutional flows.

Galaxy Digital has not publicly commented on the transactions. The firm does not typically disclose individual treasury movements.

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