Summary
- U.S. crypto asset manager Galaxy Digital has withdrawn approximately $250 million worth of Solana (SOL) from Binance.
- On-chain analytics firm Solana Floor said Galaxy Digital's large withdrawal could be interpreted as a buy signal.
- Solana Floor reported that Galaxy Digital recently led a $1.65 billion Solana stockpile initiated by Forward Industries.
U.S. crypto asset manager Galaxy Digital has withdrawn Solana (SOL) worth $250 million (about 350 billion won) from a cryptocurrency exchange.
On-chain analytics firm Solana Floor said on the 11th (local time) via its official X account, "Galaxy Digital withdrew 920,000 Solana from Binance over the past 6 hours." The Solana withdrawn by Galaxy Digital is currently valued at $250 million.
Some view Galaxy Digital's withdrawal as a buy signal. Solana Floor said, "Galaxy Digital may be accumulating Solana," and "Galaxy Digital recently led a $1.65 billion Solana stockpile pushed by Forward Industries." Forward Industries is a Nasdaq-listed company that recently announced a Solana stockpile.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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