On December 31st, insights from COINOTAG reveal that Galaxy Digital, recognized as one of the key market makers for EIGEN, executed a significant withdrawal of approximately 2.43 million EIGEN from Binance. This transaction, valued at about $8.96 million, occurred just five hours prior to a notable market downturn. This strategic move by Galaxy Digital appears to have catalyzed a temporary price recovery in EIGEN, which surged by 3.5%, bringing its current market value to $3.635. The reaction within the market underscores the volatility often seen in the cryptocurrency sector, particularly in response to large-scale trading activities by prominent investors. As the cryptocurrency landscape continues to evolve, monitoring such movements becomes crucial for understanding market dynamics and pricing shifts.
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