{"id":23282,"date":"2025-04-22T11:53:48","date_gmt":"2025-04-22T08:53:48","guid":{"rendered":"https:\/\/forklog.com\/en\/galaxy-digital-swaps-ethereum-for-solana\/"},"modified":"2025-04-22T11:53:48","modified_gmt":"2025-04-22T08:53:48","slug":"galaxy-digital-swaps-ethereum-for-solana","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/galaxy-digital-swaps-ethereum-for-solana\/","title":{"rendered":"Galaxy Digital Swaps Ethereum for Solana"},"content":{"rendered":"<p>Mike Novogratz&#8217;s Galaxy Digital has exchanged $105 million in Ethereum for Solana, according to analysts at Lookonchain.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">It seems that Galaxy Digital is selling <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a> and buying <a href=\"https:\/\/twitter.com\/search?q=%24SOL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SOL<\/a>!<\/p>\n<p>In the past 2 weeks, Galaxy Digital deposited 65,600 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a>($105.48M) to <a href=\"https:\/\/twitter.com\/hashtag\/Binance?src=hash&#038;ref_src=twsrc%5Etfw\">#Binance<\/a> and withdrew 752,240 <a href=\"https:\/\/twitter.com\/search?q=%24SOL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SOL<\/a>($98.37M) from <a href=\"https:\/\/twitter.com\/hashtag\/Binance?src=hash&#038;ref_src=twsrc%5Etfw\">#Binance<\/a>.<a href=\"https:\/\/t.co\/lD8tgkC4Py\">https:\/\/t.co\/lD8tgkC4Py<\/a> <a href=\"https:\/\/t.co\/olcPWNnGq2\">pic.twitter.com\/olcPWNnGq2<\/a><\/p>\n<p>\u2014 Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1914492078236811451?ref_src=twsrc%5Etfw\">April 22, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Over the past two weeks, the firm transferred 65,600 ETH to Binance and withdrew 752,240 SOL (~$98 million).<\/p>\n<p>At the time of writing, <a href=\"https:\/\/www.coingecko.com\/en\/coins\/solana\">Solana<\/a> is trading at $139.86 (-0.5% for the day), while <a href=\"https:\/\/www.coingecko.com\/en\/coins\/ethereum\">Ethereum<\/a> is at $1624 (-1.4%). Over the past seven days, SOL&#8217;s price has risen by 6.1%, whereas ETH has decreased by 1.2%, according to <a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>.<\/p>\n<p>According to Dune Analytics, trading volume on decentralized exchanges in the Solana network exceeded $395 billion over three months, compared to $364 billion on Ethereum platforms.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"336\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2025-04-22-113301-1024x336.png\" alt=\"Snimok-ekrana-2025-04-22-113301\" class=\"wp-image-257246\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2025-04-22-113301-1024x336.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2025-04-22-113301-300x98.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2025-04-22-113301-768x252.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2025-04-22-113301-1536x504.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2025-04-22-113301.png 1594w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/dune.com\/Henrystats\/ethereum-vs-solana\">Dune Analytics<\/a>.<\/figcaption><\/figure>\n<p>The number of active SOL addresses also surpasses ETH: 224 million compared to 79 million.<\/p>\n<p>On April 17, Galaxy Research <a href=\"https:\/\/forklog.com\/en\/news\/galaxy-research-proposes-new-voting-system-to-curb-solana-inflation\">proposed<\/a> adjusting the voting system that determines the outcome of Solana&#8217;s future inflation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mike Novogratz&#8217;s Galaxy Digital has exchanged $105 million in Ethereum for Solana, according to analysts at Lookonchain. It seems that Galaxy Digital is selling $ETH and buying $SOL! In the past 2 weeks, Galaxy Digital deposited 65,600 $ETH($105.48M) to #Binance and withdrew 752,240 $SOL($98.37M) from #Binance.https:\/\/t.co\/lD8tgkC4Py pic.twitter.com\/olcPWNnGq2 \u2014 Lookonchain (@lookonchain) April 22, 2025 Over the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":23281,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[46,770,1268,1159],"class_list":["post-23282","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ethereum","tag-galaxy-digital","tag-on-chain-analysis","tag-solana-sol"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/23282","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=23282"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/23282\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/23281"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=23282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=23282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=23282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}