According to Lookonchain, Bitcoin mining firm MARA transferred 275 BTC worth approximately $25.31 million to FalconX about two hours ago, highlighting a notable miner outflow event for traders to monitor. According to Arkham Intelligence, the sender cluster is labeled under the mara-pool entity, linking the transaction to the miner’s pool and providing on-chain attribution for the flow. According to FalconX, the firm operates an institutional prime brokerage and OTC platform for large digital asset transactions, making miner transfers to FalconX relevant for assessing potential liquidity events. According to CryptoQuant research, increases in miner outflows to off-ramps are historically tracked as potential sell-side supply indicators, which is why this transfer may be relevant to short-term BTC order flow analysis.

According to @lookonchain, SharpLink transferred 379 million USDC to Galaxy Digital, with the transaction traceable via Arkham’s explorer at the linked address (source: @lookonchain X post on 2025-09-11 https://twitter.com/lookonchain/status/1965963519096140029; source: Arkham address https://intel.arkm.com/explorer/address/0x9E07015c083da6384A174934b970b783415a6586). @lookonchain added that the funds may be used to purchase more ETH, though this intent is not confirmed on-chain (source: @lookonchain X post on 2025-09-11 https://twitter.com/lookonchain/status/1965963519096140029). Galaxy Digital publicly provides OTC and market-making services for digital assets including ETH, indicating it can facilitate large client transactions (source: Galaxy Digital Trading overview https://www.galaxydigital.io/our-businesses/trading/).