According to Onchain Lens, Galaxy Digital transferred approximately 10,600 ETH worth 51.04 million USD to three new wallets.
This large transaction was detected on August 24, reflecting notable cryptocurrency transfer activity between new wallets associated with Galaxy Digital.
MAIN CONTENT
Galaxy Digital transferred a total of 10,600 ETH to three new wallets.
When and how did Galaxy Digital's large ETH transaction take place?
Galaxy Digital executed a transaction transferring 10,600 ETH to three new wallets, with a total value of approximately 51.04 million USD, on August 24.
The information is monitored live by Onchain Lens – a platform specialized in monitoring blockchain activities. The wallets receiving ETH are all new accounts, indicating that Galaxy Digital may be implementing a strategy for allocation or asset protection across different wallets.
The use of new wallets to receive large amounts of ETH is considered a common practice in the cryptocurrency industry to enhance security and flexible capital management.
What is the impact of this transaction on the cryptocurrency market?
Such a large transaction can affect liquidity and supply-demand in the ETH market, while also demonstrating Galaxy Digital's financial strength in the cryptocurrency investment field.
However, there is no specific data on whether this ETH is immediately used for investment or further trading, so the short-term market impact remains unclear. Experts often monitor large transactions to assess cash flow trends and investor sentiment.
“Distributing assets across multiple new wallets helps enhance security and control risks in cryptocurrency management.”
– Phan Minh Dung, Blockchain Expert, Blockchain Security Symposium 2023
How to accurately track such trading activities?
Platforms like Onchain Lens provide detailed blockchain data analysis tools, helping users and investors track large transactions transparently and accurately.
Monitoring this data not only helps track cash flows but also enhances the ability to identify the strategies of organizations or individuals with significant influence in the cryptocurrency market.
What safety measures are implemented when managing large amounts of ETH?
Most organizations choose to separate capital into multiple wallets to minimize the risk of loss due to attacks or technical failures. This also facilitates management and strategic capital allocation.
Other security measures include using cold wallets, multi-signature security technology combined with strict auditing processes to ensure the safety of digital assets.
Frequently Asked Questions
Does Galaxy Digital's transaction of 10,600 ETH affect the price of ETH?
Large transactions can impact supply and demand, but there are no immediate signs of a price change in ETH from this transaction.
What is Onchain Lens and how does it work?
Onchain Lens is a blockchain monitoring platform that provides transparent data on transactions and cryptocurrency wallet activities.
Why did Galaxy Digital use multiple new wallets to receive ETH?
Using multiple new wallets helps increase security, allocate risk, and manage assets more efficiently.
How is ETH trading monitored to ensure transparency?
Public blockchain monitoring platforms provide real-time data, ensuring transparency for all transactions on the ETH network.
Is distributing ETH into multiple wallets a safe security measure?
This is a common measure to reduce concentration risk while facilitating easier control and management of assets.
Source: https://tintucbitcoin.com/ba-vi-nhan-10-600-eth-tu-galaxy/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news about the cryptocurrency market and not miss any important information!
