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Galaxy OTC Flow Hits Exchanges Right After Aave Turbulence .
Just an hour ago, a wallet linked to Galaxy Digital’s OTC desk moved 15,000 $ETH (~$34.74M) onto exchanges, And if you trace it back, these funds are part of a 38,000 #ETH withdrawal from Aave about a week ago… right when the Kelp DAO exploit shook the market and raised concerns around bad debt.
so this doesn’t look random. it lines up more with: risk-off behavior after the exploit, pulling liquidity out of DeFi when uncertainty spiked and now possibly redistributing or offloading via OTC/exchanges..... given Galaxy’s role, this isn’t necessarily a panic dump, it could just be client flow or structured selling. but still, when size like this starts moving to exchanges after a major DeFi incident, it usually reflects a shift in positioning.
in short: funds left DeFi during chaos… and now they’re showing up where liquidity is deepest.
Anyways here is the address:
0x16F6d15381bEE4A25B25F0d1C4161b78f7F21Fde