Galaxy Digital, a leading asset management firm, withdrew 282,500 SOL valued at $40.5 million from various centralized exchanges, including Coinbase and Binance. The transaction took place over a period of nine hours.

The company promptly staked 274,253 SOL, worth $39.15 million, marking a clear endorsement of Solana’s network. Such action is seen as part of institutional strategies in digital asset management.

The latest price data indicates that Solana is currently trading at $X, experiencing a fluctuation between $Low Price and $High Price. Analysts suggest that this trend aligns with previous market movements, reinforcing historical price patterns.

Experts view this transaction as indicative of growing confidence in blockchain technologies. Institutional stakeholding in scalable networks like Solana reflects a strategic positioning within the digital asset market.

Previously, on March 1, 2025, Galaxy Digital participated in purchasing SOL tokens from the FTX bankruptcy auction. The firm’s continuous involvement underlines their commitment to diversifying crypto holdings.

According to experts, the move to stake SOL immediately after the withdrawal suggests a calculated risk to capitalize on potential network value increases. Historical data supports such strategic patterns among institutional investors.

Lookonchain Analyst – “Galaxy Digital withdrew approximately 282,500 SOL (worth $40.5 million), showcasing substantial institutional interest in the Solana network.” source