Investment Firms Move Massive Ethereum Holdings to Exchanges

Over the past 24 hours, prominent investment platforms have transferred significant portions of their Ethereum (ETH) holdings to cryptocurrency exchanges. Data from on-chain tracker TheDataNerd reveals that Polychain Capital deposited a hefty sum of 5,700 ETH ($9.19 million), Galaxy Digital’s OTC desk sent 10,000 ETH and another 2,500 ETH to Binance, totaling roughly $20.89 million. B2C2 also moved 6,540 ETH (approximately $10.67 million). This combined transfer of over $40 million has raised questions regarding the intentions behind these transactions.