Galaxy Digital Launches Institutional OTC Prediction Markets Trading
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 4 days ago
0mins
Source: seekingalpha
Galaxy Digital's stock fell 5.02% as it crossed below the 5-day SMA amid a generally positive market environment, with the Nasdaq-100 up 0.24% and the S&P 500 up 0.07%.
The decline in Galaxy Digital's stock price comes despite the company launching institutional OTC prediction markets trading, which aims to enhance liquidity and privacy for hedge funds and family offices. This strategic expansion includes a significant $10 million trade executed with crypto-native hedge fund Arca, focusing on the outcomes of the CLARITY ACT. The new trading platform is expected to attract more institutional capital, enhancing Galaxy's position in the market.
This launch represents a significant innovation for Galaxy Digital, potentially increasing its market influence and providing clients with improved risk management strategies. However, the stock's decline suggests that market participants may be reacting to broader trends or profit-taking, despite the positive developments.
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Analyst Views on GLXY
Wall Street analysts forecast GLXY stock price to rise
12 Analyst Rating
11 Buy
1 Hold
0 Sell
Strong Buy
Current: 28.410
Low
24.00
Averages
43.89
High
60.00
Current: 28.410
Low
24.00
Averages
43.89
High
60.00
About GLXY
Galaxy Digital Inc. is engaged in the business of digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence (AI). The Company's digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. In addition, it develops and operates data center infrastructure to power AI and high-performance computing workloads. The Company's segments include Digital Assets, Data Centers, and Treasury and Corporate. Its Digital Assets operating business segment provides new products and capabilities such as staking, margin-based financing and active exchange-traded funds. The Data Centers segment comprises the Helios infrastructure assets. The Company's Data Centers segment develops and operates High Performance Computing (HPC) infrastructure to meet the growing demand for large-scale, power-ready facilities in the AI/HPC industry.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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See More
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