Galaxy Digital makes a massive move
The institutional whale shakes the market with $100M+ swap.
The giant of cryptocurrency financial services, Galaxy Digital, has made a strategic move by exchanging over $100 million in #Ethereum for #solana in the last two weeks.
According to a report from Lookonchain and Arkham, #GalaxyDigital deposited the considerable sum of 65,600 ETH (valued at $106.5 million) on the Binance exchange and simultaneously withdrew 752,240 SOL (approximately valued at $105 million), moving a large part of these assets to anonymous wallets.
Currently, Galaxy holds 55,760 ETH ($90.99M) and 171,327 SOL ($24.04M).
This change coincides with a bearish sentiment towards Ethereum, which faces a price correction of 51.5% in 2025 and a historic drop in its market dominance below 7%.
Meanwhile, Solana shows robust growth, with an 8% increase in the last month compared to a 20% drop in ETH.
This move could reflect Galaxy's bet on scalability and the burgeoning ecosystem of Solana, generating speculation about a paradigm shift in institutional investments in cryptocurrencies.
