• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Massive SOL Withdrawal by Galaxy Digital Grabs Crypto Community's Attention

user avatar

by Giorgi Kostiuk

2 days ago

Galaxy Digital's recent withdrawal of 920,000 SOL tokens from Binance has become a significant event in the crypto industry, drawing attention from the Solana community.

Scale of Galaxy Digital's SOL Withdrawal

Galaxy Digital executed a withdrawal of 920,000 SOL tokens, valued at approximately $205 million. The data was provided by the analytical platform SolanaFloor.

Reasons Behind the Withdrawal and Its Significance

According to SolanaFloor, the withdrawal is linked to a recent $165 million raise led by Forward Industries. This may indicate that Galaxy Digital is actively accumulating SOL as a long-term investment.

Market Implications and Future of SOL

This withdrawal not only highlights institutional interest in Solana but could also impact market prices and liquidity. Increased demand for SOL may suggest positive trends for the asset's future growth in the Solana ecosystem.

Galaxy Digital's SOL withdrawal underscores the growing confidence of institutional investors in Solana and its potential for market growth.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

BlockchainFX: Prospects and Impact on the Crypto Market

chest

Exploring the potential of BlockchainFX, a new project attracting investor attention, comparing it to the success of Cardano.

user avatarGiorgi Kostiuk

Growing Optimism for Solana Amid Institutional Purchases and Tech Upgrades

chest

In recent weeks, institutional buying of SOL has surged alongside network enhancements, generating optimism among users.

user avatarGiorgi Kostiuk

Layer Brett: An Innovative Meme Coin with High Utility

chest

The article explores Layer Brett, a new meme coin that offers utility and high staking rewards, along with price predictions for Cardano.

user avatarGiorgi Kostiuk

Shiba Inu Freezes BONE Tokens Following Shibarium Hack

chest

The Shiba Inu team has frozen 4.6 million BONE tokens after a hack related to Shibarium. An investigation is underway.

user avatarGiorgi Kostiuk

Dogecoin Surpasses Other Cryptocurrencies with 36.86% Gain

chest

Dogecoin's price has surged by 36.86% over the week, outpacing other cryptocurrencies, while Bitcoin's growth has slowed.

user avatarGiorgi Kostiuk

Shiba Inu Freezes 4.6 Million BONE Tokens After Bridge Attack

chest

The Shiba Inu team froze 4.6 million BONE tokens following a breach of the Shibarium bridge, highlighting vulnerabilities in crypto infrastructure.

user avatarGiorgi Kostiuk

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.