🔄Galaxy Digital Swaps $100 Million in $ETH for $SOL, On-Chain Data Shows Major Strategy Shift

Mike Novogratz's Galaxy Digital has transferred 65,600 $ETH (approximately $105 million) to Binance @binance over the past two weeks and withdrew 752,240 $SOL (approximately $98.37 million), suggesting a significant adjustment to its asset structure.

This move comes against the backdrop of #$ETH falling nearly 20% in the past month, while #$SOL has risen by about 8%. A recent report by Standard Chartered pointed out that #$ETH faces a "structural downturn" and lowered its year-end target price.

Arkham @arkham data shows that Galaxy currently still holds approximately $87.90 million worth of $ETH and $23.86 million worth of $SOL. The Solana ecosystem continues to expand, with DEX trading volume exceeding $500 billion in three months, far surpassing Ethereum's $400 billion, and the number of active addresses has also exceeded 220 million.