Analysis: Recent Significant ETH Sell-offs by Two Institutions Might Trigger Market Instability

Jinse reported that on-chain data shows institutional supporters like Galaxy Digital and Paradigm have been significantly reducing their ETH holdings in recent weeks. Specifically:

1. Galaxy Digital has deposited 65,600 ETH (worth $105.5 million) into CEX, reducing its ETH holdings from 98,000 to nearly 68,000 ETH;

2. Paradigm recently transferred 5,500 ETH to Anchorage Digital and has transferred approximately 97,000 ETH (worth about $301.57 million) to Anchorage Digital since January, which were subsequently moved to CEX.