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Massive Whale Movement Hints at Institutional Confidence in Solana as Galaxy Digital Rotates from ETH to SOL

  • A whale has redeemed and transferred a significant amount of Solana (SOL) to Binance, indicating a possible strategic profit-taking or asset reallocation.
  • Galaxy Digital, the crypto-focused financial services firm, has reduced its exposure to Ethereum (ETH) and heavily acquired Solana, signaling a shift in asset allocation.
  • The whale's address, which made a substantial SOL pledge four years ago, has gained approximately $111.4 million in price appreciation alone, contributing to a total revenue of $153.5 million.
  • The strong staking position of the whale and Galaxy Digital's rotation from ETH to SOL showcase institutional confidence in Solana's growth and potential as a foundational blockchain.

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