$8.5M
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Capital shifting between wallets, neutral flow change. $8.5M PAXG moved from Paxos 4 to Paxos 8 on Ethereum. Monitor the follow-up routing to distinguish internal treasury rotation, market-maker rebalancing, bridge settlement, and exchange wallet management from a true directional position change, because similar routes can look bullish or bearish without full context. Low priority whale transactions capital flow: treat as context unless similar transfers repeat.