🔥 Galaxy Digital dumps Ethereum! Turns to Solana instead in the middle of the crypto coma 😱📉
💸 What happened?
Galaxy Digital, the famous crypto investment firm of Mike Novogratz, has decided to make a major asset swap by:
✅ Swap Ethereum (ETH) for 65,600 ETH (~$106.5 million)
👉 Become Solana (SOL) for 752,240 SOL (~$105 million)
💰 Transactions via Binance in the past 2 weeks (data from Lookonchain)
📉 Why dump Ethereum? Because ETH is currently under heavy pressure:
🟣 Market share is falling All-time low (below 7%)
💔 Price plunges 51.5% year-to-date (to $1,627)
📤 Institutions withdraw funds from Ethereum ETFs for 8 consecutive weeks, totaling $909 million
⚙️ DeFi starts moving to Solana, Base (L2), and other faster, cheaper networks
🔧 What will Ethereum do? A major upgrade called Pectra is coming on May 7:
🔼 Improves scalability
💻 Switches bytecode to RISC-V architecture (Vitalik's proposal)
⚙️ Improves UX and staking
🔄 Why Galaxy chose Solana?
⚡ Speed and low fees = Good for DeFi and NFT
💪 Continues to grow despite market slump
🌍 Attracts on-chain activity More and more
✅ It is likely that SOL still has “room to grow” in the next bull run
⬇️Read the details below⬇️
📌 Warning: Blockchain and crypto are high-risk investments. Please study carefully before participating.