Galaxy Digital Deposits 62,181 ETH ($99M) to Binance and Coinbase, Withdraws 150,221 SOL ($58M), Sells ETH for SOL

Over the past six days, Galaxy Digital has deposited a total of 62,181 Ethereum (ETH) tokens, valued at approximately $99.46 million, into cryptocurrency exchanges Binance and Coinbase. This includes a recent deposit of 12,500 ETH worth $20 million to Binance alone. Concurrently, Galaxy Digital has been withdrawing Solana (SOL) tokens from exchanges, with total withdrawals reaching $58 million since April 14 across Binance, Coinbase, and OKX. The firm has withdrawn an additional 150,221 SOL valued at nearly $20 million recently. Reports indicate that Galaxy Digital is selling over $50 million worth of ETH to acquire SOL. Additionally, Galaxy Digital has floated an inflation proposal amid these movements in their cryptocurrency holdings.

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