Fresh on-chain data suggests Galaxy Digital may be offloading its Ethereum (ETH) holdings on the Binance exchange. Per the data, the company is pitching its tent with Solana (SOL), stacking up nearly $100 million worth of SOL over two weeks.
Galaxy Digital Withdraws 752,240 SOL From Binance
According to an X post by Lookonchain, Galaxy Digital appears to be losing faith in Ethereum following its on-chain activities. On-chain data reveals that the financial services may have sold a large tranche of ETH in exchange for SOL tokens.
The data indicates that over the last 14 days, Galaxy Digital deposited 65,600 ETH valued at $105 million on Binance. Within the same period, Galaxy Digital withdrew 752,240 SOL tokens in a possible ETH-to-SOL swap.
“It seems that Galaxy Digital is selling ETH and buying SOL,” said Lookonchain. “In the past 2 weeks, Galaxy Digital deposited 65,600 ETH ($105.48M) to Binance and withdrew 752,240 SOL ($98.37M) from Binance.”
The on-chain movement has raised eyebrows given the sheer volume and consistency of transactions over a two-week window. The steady SOL purchases follow Galaxy Digital staking $40 million SOL after reaching a settlement agreement with the NYAG over LUNA sales.
This is not the first time the firm is selling Ethereum, with the company ditching ETH to stack Bitcoin in late 2024. Ethereum price reacted negatively to the reports, shedding 4% and dousing optimism for an ETH rally to $3K.
Ethereum Faces A Torrid Patch As Solana Surges Forward
Galaxy Digital’s on-chain activity comes amid a rough patch for Ethereum in recent weeks. The largest altcoin is trading under $2,000 after an underwhelming Q1, forcing the hand of investors to sell their ETH holdings.
While Galaxy Digital is selling off its ETH, Tron founder Justin Sun is hodling his ETH holdings. Trump-backed WLFI has denied selling its ETH after a wallet linked to the project offloaded over $8 million worth of ETH tokens.
On the flipside, Solana is basking in a red-hot streak of positive on-chain metrics. Over the last 30 days, Solana had the highest number of active wallet addresses by a distance, while transaction volume outclassed its peers.
The combination of rising network activity around Solana is fueling speculation for SOL rise to $2,000. At the moment, SOL is trading at $138.2, slipping by 1.42%, but enthusiasm among traders is at an all-time high.
The Federal Reserve is having a closed-door meeting today to discuss potentially cutting interest rates. This would help crypto in a few ways, spurring risky investments and possibly even weakening the dollar.
Fed Chair Jerome Powell has been hesitant to cut rates, but he is under a lot of pressure. BlackRock’s CEO Larry Fink is currently pessimistic about rate cuts, claiming that they may even increase this year.
Soon after, the White House denied the rumors, resulting in a crash. However, the Federal Reserve is having a closed-door meeting today, and it may plan to cut interest rates:
“A closed meeting of the Board of Governors of the Federal Reserve System at will be held 11:30 am on Monday, April 7, 2025. The following matters of official Board business are tentatively scheduled to be considered at that meeting: review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks,” the Fed’s website read.
There are many reasons why the Federal Reserve could cut interest rates. High rates make fixed-income investments more attractive, drawing capital away from riskier assets like stocks and cryptocurrencies, while low rates make these assets more attractive.
Rate cuts have often corresponded with market rallies, especially with ZIRP after the 2008 crash.
Fed Chair Jerome Powell initially signaled that he was reluctant to cut rates at this moment, but pressure has been building for him to do so. Unfortunately, that may not matter yet.
Larry Fink, BlackRock’s pro-crypto CEO, has been very pessimistic about possible cuts. In a recent televised interview, he claimed that most CEOs believe the US is already in a recession and that the country is currently not a “global stabilizer” in the markets.
Under these conditions, he stated that there’s a 0% chance of 4 to 5 rate cuts and that rates may even increase.
BREAKING: Blackrock CEO Fink says that he worries that Trump’s actions are much more inflationary than the markets expect, and the economy is weakening as we speak.
He also says that he sees a 0% chance of four or five interest rate cuts this year, and sees a chance of interest… pic.twitter.com/wyTpBoCP5W
When the Federal Reserve cuts interest rates, it isn’t a bullish signal across the board. They also tend to weaken the US dollar as its yield advantage diminishes relative to other currencies.
This would also be good for crypto, considering its use as a store of value, but the Fed isn’t particularly interested in that. The industry won’t be the deciding factor either way.
Still, other commentators have been highly skeptical of Fink’s claim. Powell is under a lot of pressure to cut rates, so raising them would buck market expectations. Investors are betting on multiple rate cuts, and these hypothetical cuts may be priced to a certain extent.
Looking back at previous cycles, periods of rate cuts have often coincided with market rallies. For instance, during the post-2008 recovery, rate cuts revived equity and emerging asset classes.
Overall, lower rates typically mean easier access to credit, leading to more liquidity in the market. This extra liquidity can help drive up demand for riskier assets, including cryptocurrencies.
So, If the FOMC signals a shift toward lower interest rates, this could boost overall market confidence. As traditional markets begin to stabilize and recover, crypto markets might experience a rebound.
Investor sentiment, already shaken by the recent sell-offs and heightened volatility, could turn more optimistic with the prospect of easing monetary conditions.
Most importantly, institutional investors, who have been cautious during the current volatile period, may adjust their strategies in a lower-rate environment.
With lower fixed-income yields, portfolio managers could increase their allocation to alternative assets, including cryptocurrencies, to achieve higher returns. This influx of institutional capital could lend credibility to the crypto market and help drive a recovery.
Price predictions for 2025 suggest highs of $50 and potential ETF approval.
Long-term forecasts indicate AVAX could reach $518.50 by 2030.
Avalanche has become a go-to platform for developers, especially after its Avalanche 9000 mainnet upgrade and the launch of the AVAX card in early 2025. With lower fees and growing real-world use cases, plus backing from giants like Mastercard and SMBC, AVAX is gaining serious traction. Explore our in-depth AVAX Price Prediction 2025 and long-term outlook through 2030.
According to Coinpedia’s AVAX price prediction, the altcoin may surpass the $49.46 mark in 2025. Moreover, the upcoming years are expected to be bullish, with a conservative momentum.
With an optimistic outlook, we expect the AVAX coin price to reach $50 in 2025.
Year
Potential Low
Potential Average
Potential High
2025
$12.36
$30.91
$49.46
Avalanche Price Target July 2025
The price prediction for Avalanche (AVAX) in July 2025 suggests that bulls have regained control and moved past short-term EMA hurdles, and AVAX recently retested the $26.50 resistance level, but rejected with a market-wide sell-off.
However, the AVAX market is picking up again. If momentum continues, then AVAX could spike again to retest the $26.50. In a more optimistic scenario, prices could even reach $33.06 during July, only if momentum remains strong.
However, if momentum doesn’t sustain above $26.50, then momentum could rise for a brief time, and AVAX might retreat to $20 or $15 support in that upcoming short-term scenario.
Month
Potential Low ($)
Potential Average ($)
Potential High ($)
AVAX Price Target July 2025
15.00
26.50
33.06
AVAX Price Prediction 2025
Avalanche (AVAX) is gaining traction among developers, thanks to its high throughput and low fees, making it an attractive platform for gaming applications. Looking ahead, there’s a promising outlook for the AVAX price in 2025.
A Bloomberg ETF analyst recently suggested that an AVAX ETF could receive approval by the end of the year, with a 90% chance of success. This potential approval could significantly boost adoption and drive prices higher.
Meanwhile, a look at its daily technical chart reveals that after a challenging Q1 2025, where AVAX dropped to $14.65, the price showed some resilience with recovery displayed in Q2, climbing to $26.50 by mid-May.
However, by the end of Q2, it retreated to around $16, facing strong resistance from the 200-day EMA band.
Interestingly, the $15-$16 support area has been tested three times in Q2, indicating that bearish pressure is weakening at this level. Even from late June to July, AVAX has retested the $26.50 resistance level following bullish altcoin sentiment.
The past couple of months have turned out to be a rectangular box range, and in this range, the AVAX price action has displayed a phenomenal triple bottom pattern
The AVAX is on the brink of forming a golden cross between the 200-day and 50-day for a sustained uptrend. The bullish cross between the 20-day and 50-day EMAs is expanding upwards, signifying the bullish strength rising.
This pattern, along with good technicals and fundamentals, is increasing investors’ hopes for H2 to be better than H1.
Therefore, if bulls continue the ongoing July’s bullish momentum, then knocking the $26.50 would be the resistance that would mark a Change of Character (ChoCh) to AVAX’s current bearish trend. In the final days of July, a short-term rally could push AVAX back to the $26.50 resistance by July 2025. But a bullish scenario could send AVAX to $33.06 by August.
For the long term, a price target of $50 is feasible, provided that AVAX maintains above $26.50 and closes daily above this level. Achieving this would signal a shift in trend, breaking the bearish pattern and indicating a Change of Character (ChoCh) followed by an upward Break of Structure (BoS).
However, this bullish outlook could be overturned if a strong bearish activity stops $26.50 breach, then AVAX will have no choice but to retreat back to $15 demand area.
Year
Potential Low
Potential Average
Potential High
2025
$25
$33
$50
Explore the future with our Ethereum price prediction 2025, 2026 – 2030, will ETH continue to dominate the crypto space?
Based on the historic market sentiments, and trend analysis of the altcoin, here are the possible AVAX price targets for the longer time frames.
Year
Potential Low ($)
Potential Average ($)
Potential High ($)
2031
209
270
331
2032
259
344
430
2033
307
418
529
2040
1,212
2,055
2,899
2050
8,679
13,010
17,341
Market Analysis
Firm
2025
2026
2030
Changelly
$24.72
$40.82
$232.67
Coincodex
$32.63
$28.42
$19.98
Binance
$25.64
$26.92
$32.72
*The aforementioned targets are the average targets set by the respective firms.
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Story Highlights The live price of the Avalanche is . Price predictions for 2025 suggest highs of $50 and potential ETF approval. Long-term forecasts indicate AVAX could reach $518.50 by 2030. Avalanche has become a go-to platform for developers, especially after its Avalanche 9000 mainnet upgrade and the launch of the AVAX card in early …
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