Mike Novogratz’s Galaxy Digital Acquires 26,000 ETH
According to Lookonchain, Galaxy Digital withdrew 26,000 ETH worth $76.2 million from Coinbase Prime and Binance. This signals a bullish confidence in Ethereum and reflects growing institutional interest.
Whale Moves and Ethereum’s Uptrend
Following a significant withdrawal by Galaxy Digital, Ethereum’s price surged to $3,000. This price rally was driven by whale activity, including a 14,000 ETH transfer from Coinbase Institutional.
Galaxy Digital’s Ethereum Strategy
Institutions, including Galaxy Digital, are increasingly viewing cryptocurrencies, particularly Ethereum, as diversification assets. Galaxy Digital’s acquisition indicates a positive outlook for Ethereum, with the current price at $2,913 and a 30-day surge of 17.68%. The firm’s move reflects its strategic stance and bullish confidence in the cryptocurrency. Analysts expect significant ETF approvals and positive sentiment around the upcoming Dencun upgrade, demonstrating institutional confidence in Ethereum’s potential.
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