On December 13, COINOTAG revealed that Galaxy Digital executed significant withdrawals from a centralized exchange (CEX), amounting to approximately 18.9 million US dollars in Uniswap (UNI) and 10.19 million US dollars in Aave (AAVE). Specifically, the firm extracted 1.07 million UNI tokens alongside 27,722 AAVE tokens, illustrating a strategic pivot in its asset management approach. These movements signal an increasing trend of liquidity management among institutional investors focused on optimizing their portfolios amidst fluctuating market conditions. The implications of such actions may indicate a heightened interest in navigating decentralized finance (DeFi) opportunities or bolstering capital reserves for future investments. Analysts will likely monitor further developments closely as such withdrawals can influence market sentiment and liquidity in the respective tokens.
Source: https://en.coinotag.com/breakingnews/galaxy-digital-withdraws-1-07-million-uni-and-27722-aave-from-cex-what-it-means-for-the-market/