Galaxy Digital Raises Best On Bitcoin, Ethereum
According to the most recent data, Galaxy Digital appears to be bullish on Bitcoin and Ethereum. In the midst of the ongoing price increase, the blockchain company recently made significant investments in Bitcoin and Ethereum positions.
Lookonchain reported that Galaxy Digital deposited 4,168 WBTC worth $142 milli on and 16,000 ETH worth $28.6 million into Aave and Compound, citing data from DeFi portfolio tracker DeBank.
Galaxy Digital has always been a supporter of Bitcoin. The company has now decided the long-term future of Bitcoin and Ethereum.
Wrapped Bitcoin and Ethereum worth a total of $170 million were deposited into decentralised protocols Aave and Compound as collateral to borrow $71.6 million in stablecoin USDT and $21.9 million in stablecoin USDC.
(With inputs from Shikha Singh)
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