On September 30, Galaxy Digital Holdings Ltd. rose 5.01% in regular trading, reaching $23.81 per share, with turnover of approximately $5.28 million. The rally was driven by a confluence of positive developments around institutional partnerships and robust over-the-counter business activity.

On the partnership front, Galaxy Digital and Sky Protocol recently announced a collaboration across lending and capital markets. Galaxy added $100 million of sUSDS, the native savings token accessible through Sky Protocol, to its corporate treasury and approved sUSDS as eligible collateral across its institutional trading business, which carries a $1.4 billion average loan book. This deepens Galaxy's integration with decentralized finance infrastructure at an institutional scale.

Meanwhile, on-chain data revealed significant whale OTC activity through Galaxy Digital, including a transfer of 42,000 ETH worth approximately $112 million into Galaxy Digital for sale, following months of accumulated purchases. This highlights the firm's growing role as a major OTC liquidity provider for large-scale digital asset transactions. Additionally, Morgan Stanley previously raised its price target on Galaxy Digital from $37 to $48 while maintaining an Overweight rating, providing further support to market sentiment.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)