The Mike Novogratz digital galaxy has apparently changed $ 100 million in Ethher (ETH) for Solana’s Sol.
According to Wu Blockchain, the data in the chain suggest that Galaxy has changed a considerable amount of its ETH holdings for sun. In the last two weeks, Galaxy has transferred 65,600 ETH, or around $ 105 million, to Binance and has retired 752,240 Sun (approximately $ 98.37 million).
Galaxy may have made the movement because ETH continues in “Structural deterioration” according to a recent Standard Chartered note, which reduced its year -end -year price for the asset.
The data of an Arkham board show that the company owns $ 87.9 million eth versus $ 23.86 million Sun.
Galaxy did not immediately return a request for comments from Coindesk.
Market data show that in the last month, Sol has increased by 8%, while ETH has dropped almost 20%.
Standard Chartered estimated in his note that Base has reduced the $ 50 billion of its market capitalization, but also argued that tokenized active assets could help stabilize Ethereum.
Many Blockchain metrics would admit the thesis of Standard Chartered, since Transactions in Solana have shot beyond Ethereum in the last three months.
A dune board shows that the volume of decentralized exchange (DEX) in Solana has passed more than $ 500 billion in the last three months, while the volume of Dex in Ethereum is less than $ 400 billion. Active addresses in Solana are more than 220 million, while the directions of Capa 2 of Ethereum and Ethereum are just over 80 million.
An idea, first proposed by Justin Sun of Tron, to reverse this “structural decline” of Ethereum has been a CAPA-2 tax.
“All taxes collected will be used to repurify ETH and burn it in a totally decentralized way,” he wrote in X. This idea, however, has not been formalized in a proposal to improve Ethereum (EIP) that would be the first step in reality.
Meanwhile, ETHher’s flow data shows that investors moved almost $ 600 million of these products listed in the last two months.
