Galaxy Digital Moves 935,000 SOL to Coinbase

Galaxy Digital, led by CEO Michael Novogratz, has moved 935,000 SOL tokens, valued at approximately $191 million, onto Coinbase, including a recent deposit of 175,000 SOL.

This substantial transfer could signal potential selling activity, potentially exerting downward pressure on Solana’s market price and impacting overall cryptocurrency market dynamics.

Galaxy Digital Makes $191 Million SOL Deposit on Coinbase

Galaxy Digital’s notable deposit of 935,000 SOL into Coinbase includes a recent addition of 175,000 SOL. On-chain monitoring by Lookonchain first reported these movements. The transfer highlights Galaxy Digital’s strategic asset management as it oversees substantial blockchain investments in a dynamic market. Immediate implications are commonly tied to liquidity increases on exchanges like Coinbase. The extent of the impact remains uncertain, however, as trading volumes can fluctuate. Market buzz revolves around the potential for significant sales or strategic repositioning by Galaxy Digital.

Despite the large movement, no official comments from Galaxy Digital’s leadership or significant external stakeholders have been observed in primary on-chain forums.

No official statements available regarding the recent deposits of SOL. — Michael Novogratz, CEO, Galaxy Digital

Solana’s Price Movement Amid $3.84 Billion Daily Trading

Did you know? Large-scale deposits by institutional investors often signal impending volatility in asset prices, adding potential market tension.

Solana (SOL), priced at $207.55, holds a market cap of approximately $112.47 billion, dominating 2.93% of the market as recorded by CoinMarketCap. The 24-hour trading volume experienced a 25.66% change totaling $3.84 billion. SOL’s price movements show an increase of 3.65% in the last day and significant gains of 16.70% over 30 days, with CoinMarketCap noting updates at 23:09 UTC on September 7, 2025.

Market analysts note that historic trading patterns imply that substantial asset deposits foreshadow tumultuous trading sessions. The Coincu research indicates possible corrective market responses, where regulatory attention and technological diligence could temper the volatile implications of Galaxy Digital’s actions.