New blockchain data shows Galaxy Digital might be selling a lot of Ethereum (ETH) and buying Solana (SOL) instead. Over the last two weeks, the company sent 65,600 ETH (worth about $105 million) to Binance and took out 752,240 SOL (worth around $98 million). This suggests a big shift in investment from ETH to SOL.
Galaxy Digital’s move comes as Ethereum struggles to hold value. ETH recently dropped below $2,000 after a disappointing first quarter in 2025. This price drop may have pushed Galaxy Digital to switch to Solana.
Solana, on the other hand, is doing well. It has had more active users and higher transaction volume than other blockchains in the past month. Some experts think SOL could even reach $2,000 if the trend continues, even though it's currently priced around $138.
This isn’t the first time Galaxy Digital has made a big move away from Ethereum. Last year, they also sold ETH to buy more Bitcoin. They also recently staked $40 million worth of SOL after settling a legal case with New York authorities.
While Galaxy Digital is selling ETH, some other big names like Justin Sun and Trump-linked WLFI are still holding onto theirs, despite rumors of ETH sales.
Overall, Galaxy Digital’s recent moves show a growing belief in Solana’s future and a loss of confidence in Ethereum, at least for now.
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