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Galaxy Digital Transfers Additional 175,000 SOL to Coinbase

Galaxy Digital's purchase of nearly 5 million SOL reflects strong institutional interest in Solana, with the majority transferred to Coinbase Prime for secure custody.

SOL

Fact Check
The statement is directly and consistently corroborated by multiple sources, including on-chain data analyst Lookonchain and several crypto news outlets (MEXC, Kucoin, AInvest, ChainCatcher). These sources specify the exact amount of 175,000 SOL transferred by Galaxy Digital to Coinbase, often providing the date and context that it was part of a larger series of deposits.
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Summary

Galaxy Digital acquired 4.72 million SOL worth $1.11 billion and retained 219,830 SOL valued at $53.5 million. The bulk of the tokens were transferred to Coinbase Prime for custody, continuing the firm’s significant investment in Solana.

Terms & Concepts
  • SOL (Solana): The native cryptocurrency of the Solana blockchain, used for transaction fees, staking, and network operations.
  • Coinbase Prime: A premium service provided by Coinbase tailored for institutional investors, offering secure custody and other advanced trading features.