Over-the-counter (OTC) transactions totaling $100 million have been made by Galaxy Digital, a prominent cryptocurrency investment firm, signaling a strong wave of institutional confidence in Ethereum. This large-scale purchase, rare for its timing and magnitude, has fueled market optimism with many traders viewing it as a bullish indicator. The move avoids immediate impact on the open market price while allowing institutions to establish positions strategically. This significant buy signals a growing trend of institutional interest in Ethereum, which is being driven by factors like network upgrades, expanding DeFi activity, and potential approval for an Ethereum exchange-traded fund (ETF). Institutional investors are attracted to Ethereum’s role as a fundamental infrastructure layer for decentralized finance, non-fungible tokens (NFTs), and tokenization. Galaxy Digital’s action could be part of a broader strategy ahead of future market catalysts. A significant $100 million buy from Galaxy Digital in a short timeframe is a major bullish signal, suggesting that institutions believe ETH is undervalued and that it’s set to break past resistance levels and trigger a new rally. This move has shifted the overall market sentiment towards Ethereum significantly, with many analysts now predicting a sustained bull phase.