Ethereum Sell-Off Highlights Shift to Solana As Institutions Move Funds
Recent data from Lookonchain indicates significant transactions from Galaxy Digital, illustrating a strategic move from Ethereum to Solana. Over the past two weeks, Galaxy Digital deposited 65,600 ETH, valued at $105.48 million, to Binance and withdrew 752,240 SOL, worth around $98.37 million. This shift raises critical questions about the future of Ethereum as more institutions show interest in Solana. The crypto market is watching closely as this trend unfolds, indicating a potential change in investment strategies.