Galaxy Digital’s Bitcoin holdings have grown to nearly 3,912 BTC, valued at approximately $244 million, following its recent acquisition. The firm, led by Mike Novogratz, also transferred 7,000 ETH (around $17 million) to Binance and OKX, sparking significant activity in the crypto market. On Monday, Galaxy Digital moved large amounts of Ethereum and Bitcoin, stirring investor speculation after on-chain data revealed over 7,000 ETH and 500 BTC were transferred between crypto exchanges.
Within the past week, a digital wallet address (187f5QV6Q..) purchased nearly 500 BTC, valued at $31.38 million, on Binance, increasing Galaxy Digital’s Bitcoin holdings. This accumulation signals rising institutional interest in Bitcoin and optimism about its future prospects.
In addition, Whale Alert indicated that a previously dormant wallet reactivated after 11 years, moving over $1 million worth of Bitcoin, further fueling investor excitement during the “Uptober rally.”
Arkham Intelligence also revealed that Galaxy Digital transferred the 7,000 ETH to Binance and OKX in three transactions on October 14 via the address 0x335. While prices have been rising, the large-scale Ethereum movements have raised concerns among investors about potential sell-offs.
Overall, market sentiment remains positive, with Bitcoin reaching the $66,000 mark, contradicting earlier expectations of a potential downturn.
