Galaxy Digital Goes on Ethereum (ETH) Buying Spree
Galaxy Digital, under the seasoned guidance of Mike Novogratz, reaffirms its unwavering support for Ethereum (ETH) amid the cryptocurrency's remarkable 10% surge in value over the past week.
The recent transfer of 26,000 ETH, equivalent to $76.2 million, from Coinbase and Binance further underscores the firm’s enduring confidence in the digital asset.
This strategic move mirrors Galaxy Digital’s astute maneuvers made back in October, which astutely anticipated market shifts and positioned the firm advantageously.
Despite regulatory delays hampering the approval of a spot Ether ETF, industry analysts maintain an optimistic outlook, projecting potential regulatory green lights as early as May.
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With Ethereum’s current price hovering around $2,933 and trading volume experiencing a notable uptick of over 20%, it becomes evident that the cryptocurrency continues to capture the attention of both seasoned investors and traders alike.
Furthermore, the notable acquisitions by major Ethereum investors signal a strong momentum, hinting at a potential upward trajectory towards a coveted $4,000 valuation for the digital asset.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
