Galaxy Digital deposits additional $20M in ETH to Binance

Cryptocurrency financial services firm Galaxy Digital deposited 12,500 ETH ($20 million) to Binance about eight hours ago, according to Lookonchain on X. Over the past six days, the firm has transferred a total of 62,181 ETH ($99.46 million) to exchanges. Deposits to exchanges are generally seen as an indication of intent to sell, while withdrawals often signal a holding strategy. However, not all deposits to exchanges result in sales.