Mike Novogratz’s Galaxy Digital Doing Heavy Ethereum (ETH) Buying

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Lookonchain revealed that Galaxy Digital has withdrawn 26K ETH worth $76.2 million in the last 24 hours.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.

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