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Galaxy Digital Moves $103M in Solana to Coinbase

According to Lookonchain monitoring, Galaxy Digital transferred 500,000 SOL worth about $103 million to Coinbase over five days, highlighting significant institutional movement of Solana.

SOL

Summary

Galaxy Digital transferred 500,000 SOL, valued at approximately $103 million, to Coinbase over a five-day period, according to Lookonchain monitoring on September 2. The transactions represent a major institutional movement of Solana into the exchange.

Terms & Concepts
  • SOL (Solana): The native cryptocurrency of the Solana blockchain, used for transaction fees, staking, and governance.
  • Coinbase: A major U.S.-based cryptocurrency exchange where users can buy, sell, and store digital assets.
  • On-chain Data: Blockchain transaction information that can be publicly verified and analyzed.