A recent transaction by Galaxy Digital, swapping over $100 million worth of Ethereum for Solana, has led to significant fluctuations in the cryptocurrency market.
Galaxy Digital's Deal
In April 2025, Galaxy Digital, led by Mike Novogratz, executed a significant swap, moving 65,600 ETH, valued at over $100 million, for Solana on the Binance platform.
Market Impact
Following this swap, Solana's value rose by 46%, while Ethereum's price dropped by 21%. Analysts note that increased activity on the Solana network indicates a growing interest in this asset.
Future of Solana and Ethereum
Analysts predict that Solana may continue its upward trajectory, with a potential target price of $200. Significant changes in institutional investments could support Solana's position in the future.
These recent market movements signal an increasing interest in Solana and challenges facing Ethereum. These dynamics may influence the future development of the cryptocurrency market.
