Galaxy Digital has exchanged Ethereum worth 100 million dollars for Solana coins
Recent reports indicate that "Galaxy Digital", led by digital assets entrepreneur "Mike Novogratz", has executed a significant swap between Ethereum and Solana, in a move seen as a strategic shift in its investment focus.
According to a post from "Wu Blockchain", on-chain data from the "Lookonchain" platform reveals that the company transferred approximately 65,600 units of Ethereum, valued at around 105 million dollars, to the Binance trading platform over the past two weeks.
In return, "Galaxy Digital" withdrew nearly 752,240 Solana (SOL) coins from the same platform, with a total value of approximately 98.37 million dollars, suggesting that the company conducted a direct swap between the two digital assets.
This move is a clear indication of "Galaxy Digital"'s growing interest in engaging with the Solana ecosystem, which has recently seen significant expansion in terms of infrastructure and decentralized applications.
This shift represents part of the digital asset investment diversification strategy followed by "Galaxy Digital", amid increasing competition.
It also reflects a growing bet on Solana's technical capabilities and its rapid growth as an alternative platform to Ethereum for certain advanced applications.