Ethereum

Aave

Galaxy

Bitcoin ETF

James

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/galaxy-digital-boosts-ethereum-holdings-as-market-rallies">Galaxy Digital Boosts Ethereum Holdings as Market Rallies</a><br></p>
<p style="text-align: justify"> Galaxy Digital, under the leadership of Mike Novogratz, has seemingly bolstered its Ethereum portfolio, coinciding with a 10% surge in the cryptocurrency’s value over the previous week. This uptick marks Ethereum’s highest price point in two years as anticipation grows for spot Ethereum ETFs. </p> 
<h2 id="ethereum-acquisition-by-galaxy-digital">Ethereum Acquisition by Galaxy Digital</h2> 
<p style="text-align: justify"> On February 20th, blockchain data indicates that Galaxy Digital acquired 26,000 units of Ethereum, transferring them from prominent exchanges Coinbase and Binance. The holdings, valued at approximately $76.2 million, involved notable transactions from four Binance accounts and one Coinbase Prime account. This movement follows Galaxy Digital’s pattern of Ethereum investments from the past year. </p> 
<p style="text-align: justify"> The firm previously engaged in long positions for <a href="https://en.bitcoinhaber.net/bitcoins-prospects-historical-parallels-and-market-predictions">Bitcoin</a> and Ethereum on DeFi platforms Aave and Compound, just ahead of a significant market rally. Research also hinted at the potential for a spot Bitcoin ETF managed by Galaxy Digital to attract an influx of $14.4 billion within its inaugural year. </p> 
<h2 id="ethereum-s-current-price-trajectory">Ethereum’s Current Price Trajectory</h2> 
<p style="text-align: justify"> While these investment activities unfold, the US Securities and Exchange Commission has delayed its verdict on an Ethereum ETF proposed by Invesco and Galaxy Digital, a crucial decision that affects the market. Analyst James Seyffart from Bloomberg Intelligence anticipates possible approvals for spot Ethereum ETFs as early as May of this year. </p> 
<p style="text-align: justify"> Ethereum’s price presently hovers around $2,934, having increased by 1% in the last day. Its 24-hour trading span fluctuated between a low of $2,879 and a peak of $2,983. In the midst of these developments, Ethereum’s trading volume has also surged by over 20%, reflecting growing investor enthusiasm. </p> 
<p style="text-align: justify"> Moreover, Ethereum whales continue to exhibit keen interest in the cryptocurrency, with recent purchases by a whale reflecting an acquisition of 21,353 ETH at $2,810 each, swiftly resulting in profits exceeding $100 million. This interest is poised to potentially propel Ethereum’s value toward the $4,000 benchmark.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/galaxy-digital-boosts-ethereum-holdings-as-market-rallies">Galaxy Digital Boosts Ethereum Holdings as Market Rallies</a></h5>

Galaxy Digital Boosts Ethereum Holdings as Market Rallies

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