Key highlights:
- Galaxy-linked wallet sends 280 BTC to Binance in nine hours, according to TheDataNerd.
- Transfer which is currently valued at about $18.4 million sparks market attention, as it comes a day after similar move by BlackRock.
- Market analysts believe huge exchange inflows can hint at liquidity or selling.
A wallet reportedly associated with Galaxy Digital has moved 280 Bitcoin to Binance over the past nine hours. The transfer is valued at roughly $18.43 million and has drawn attention from market analysts tracking large institutional flows.
Galaxy Digital Moves Bitcoin Worth $18.43 Million
Data shared by on-chain monitoring platform, TheDataNerd shows that the address is believed to be affiliated with Galaxy Digital. Galaxy Digital is known for its active role in trading, market making, and over the counter crypto services. After the latest transfer, Galaxy Digital still holds about 3,758 BTC, with an estimated value of $245.83 million at current prices.
In past 9 hours, a $BTC whale (or maybe #GalaxyDigital) deposited 280 $BTC (~$18.43M) into #Binance.
Address:https://t.co/3AodaJaS2P pic.twitter.com/PoTlQm0K9R
— The Data Nerd (@OnchainDataNerd) February 25, 2026
Large transfers of Bitcoin to exchanges often draw scrutiny. Traders and analysts normally read such movements as a sign that coins may soon enter the market for sale. Exchanges serve as the main venues where holders can convert Bitcoin into fiat or other tokens. When large volumes arrive on these platforms, it can increase the available supply on order books.
This increased supply can weigh on prices if demand does not match it. That principle holds across financial markets. However, not every transfer is a sign of selloff. In the case of large firms like Galaxy Digital, the take is more nuanced.
The latest transfer came just a day after BlackRock moved 2,086 Bitcoin and 8,459 Ethereum out of accounts tied to Coinbase Prime custody. Those assets were worth close to $150 million at the time. The timing of these moves has added to the discussion around institutional positioning in the crypto market.
Some analysts believe that patterns in trading behavior may affect price movements during key market hours. A recent observation from MilkRoad suggested that large sell volumes often appear around the opening of the US stock market. Thus, sudden selling pressure can trigger liquidations of leveraged positions and create short term volatility. These claims remain unverified, though similar patterns have been noted by market watchers since late 2025.
For institutions, exchange transfers can serve several operational needs. Galaxy Digital operates an over the counter desk that manages large block trades for clients. These trades often happen off public order books, but firms still require liquidity on exchanges to settle positions quickly.
Market making is another factor. Firms like Galaxy Digital quote buy and sell prices to allow trading. To do that, they must hold inventory on exchanges so they can respond to client demand without delay. This requires frequent movement of assets between custody wallets and trading venues.
Risk management could also be one factor. In a volatile environment, firms may move Bitcoin to exchanges to hedge positions or adjust exposure tied to derivatives markets. Custody arrangements can play a role as well, especially when assets are prepared for client transactions or reallocations.
Historically, large inflows of Bitcoin to exchanges have preceded periods of higher volatility. At times, they have come before price corrections. Sometimes, they have had little lasting impact, especially when globally the market demand remains strong.
As of now, Bitcoin has shown limited immediate reaction to the Galaxy Digital transfer. The asset is trading near $65,393, with a gain of around 3.5 percent over the past 24 hours and a 0.1% dip in the last hour.
Also Read: Galaxy Digital Expands to Abu Dhabi with New UAE Office Launch
