Ethereum Conpring? It sells the prominent encryption giant ETH to buy Sol

TL; D

• Despite the recent positive news about Ethereum, one of the most prominent investors in ETH continued to empty more parts of assets, and even replaced them with competition.
• ETAREUM may also sell some of the ether property.

Galaxy Digital replaces ETH with Sol?

Cryptopotato It reported last week that Mike Novoghatz, which focuses on encryption, Galaxy Digital, has started selling some ETH properties. Besides the other Ethereum investors, such as whales and institutions, Galaxy deposited nearly $ 80 million of assets in Binance and Coinbase within five days at that time.

Although there are some positive developments that show that Ethereum may have turned itself in the following days, Galaxy continued to unload it, according to data from Lookonchain. Moreover, the Analysis Company has set a more worrying scenario for ETH fans, indicating that the company has used $ 105 million received by selling the ether to buy Sol.

Galaxy Digital seems to sell $ ETH And purchase $ Sol!

In the past two weeks, Galaxy Digital 65,600 has been deposited $ ETH(105.48 million dollars) to # And withdrawn 752,240 $ Sol(98.37 million dollars) from #.https://t.co/ld8tgkc4PY pic.twitter.com/olcpwnngq2

– Lookonchain (@swearonchain) April 22, 2025

Solana is widely considered a rival for ETHEREUM. Although still away Regarding Defi and TVL, Solana has become home to many other protocols and has more active addresses due to its faster speeds and low transaction costs. Thus, it can be a threat to Ethereum if big investors like Galaxy continues to prefer Solana on it.

It also sells EF?

Another told Lookonchcain that the wallet associated with the non -profit organization behind the second largest Blockchain, ETAREUM Foundation has deposited 1000 ETH in Kaken. 84,513 ETH received from EF again when the ether was traded at $ 1.2 (this is twenty -one cents, not 1200 dollars) about ten years ago.

A portfolio linked to Ethereum 1000 $ ETH($ 1.58 million) l #kraken An hour ago.

This portfolio received 84,513 $ ETH(134 million dollars now) from ETAREUM 10 years ago, when the price $ ETH It was ~ $ 1.2.https://t.co/ivl9tiptzs pic.twitter.com/v0jsof2a9

– Lookonchain (@swearonchain) April 22, 2025

The organization has also been criticized in the past to sell large quantities of ETH in a relatively short time. This co -founder of Ethereum, Vitalik Buterin, has pushed to clarify that the institution sells only when it must cover operational costs, such as paying researchers and developers.