MEXCMike Novogratz’s Galaxy Digital Doing Heavy Ethereum (ETH) Buying
Highlights
- Mike Novogratz's crypto investment firm Galaxy Digital buys ETH
- Galaxy Digital made a number of transactions on Binance and Coinbase
- ETH price moving upside strongly
Mike Novogratz’s crypto investment firm Galaxy Digital has once again making bullish bets on Ethereum (ETH) as ETH price surged 10% in a week, climbing to nearly 2-year high.
Galaxy Digital Buys Ethereum
Mike Novogratz’s Galaxy Digital moves 26,000 ETH from Coinbase and Binance, reported on-chain expert Lookonchain on February 20.
Lookonchain revealed that Galaxy Digital has withdrawn 26K ETH worth $76.2 million in the last 24 hours. Etherscan data revealed five transactions, with four from Binance and one from Coinbase Prime. Ethereum (ETH). Galaxy Digital is again going long on Ethereum, similar to last year.
CoinGape reported that Mike Novogratz’s crypto investment firm Galaxy Digital was going long on Bitcoin (BTC) and Ethereum (ETH) on Aave and Compound in October-end, just before the actual rally began. A spot Bitcoin ETF could attract $14.4 billion of inflows in the first year of issuance, Galaxy Digital reported in research.
Also Read: Binance to List Starknet (STRK) and Support Distribution for ETH Staking Users
ETH Price Upside Momentum to $3000 on Spot Ether ETF
Meanwhile, the U.S. Securities and Exchange Commission (SEC) delayed a decision on a spot ether (ETH) exchange-traded fund (ETF) jointly proposed by Invesco and Galaxy Digital. Bloomberg Intelligence analyst James Seyffart anticipated spot Ether ETF approvals coming in May this year.
ETH price jumped 1% in the past 24 hours, with the price currently trading at $2,933. The 24-hour low and high are $2,879 and $2,983. Ethereum chart pattern indicating a clear move above $3,000 soon. Trading volume has jumped over 20% in the last 24 hours, indicating a rise in interest among traders.
Ethereum whales are also going long on Ethereum, with ETH price at $4000 could be on cards. An Ethereum whale purchased 21,353 ETH at an average price of $2,810 per token.
Also Read:
- Prosecutors Raided High-Profile Crypto Hedge Fund Linked to FTX Dispute
- Ripple Moves 60 Mln XRP Right Before Remedies-Related Discovery Deadline
- Elon Musk’s X To Partner OpenAI Rival Midjourney Revolutionizing AI Space
- Canary XRP ETF Filing Removes SEC Delay Clause, Targets November Launch
- CFTC, SEC Launch ‘New Era of Collaboration’ to Clarify Crypto Rules, End Regulation by Enforcement
- Senate Committee Finalizes Updated Crypto Market Structure Bill Draft, Release Expected In Days
- €648 Billion Nordea To Allow Customers to Trade Bitcoin-Linked ETFs
- Uphold Joins Gemini, Relaunches XRP Debit Card Following SEC Lawsuit Resolution
- Cardano Price Risks 20% Crash Amid Death Cross and Falling ADA ETF Odds
- Bitcoin Price Forecast as Trump Cuts Tariffs After US-China Trade Deal
- Analyst Foresees a Parabolic Rally for Pepe Coin Price as Whale Accumulation Intensifies
- Fidelity Amends S-1 for Solana ETF: Is SOL Price Set to Rally?
- Pi Coin Price Targets $0.65 as ISO 20022 Membership Boosts Institutional Confidence
- Ethereum Price Flips BTC in Strategy Shift, Eyes $4500 Level
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
