According to data from on-chain analytics platform Lookonchain, Jump Crypto has converted a large amount of SOL holdings into Bitcoin.
In the last 15 minutes, the company transferred 1.1 million unlocked SOL (worth approximately $205 million) to Galaxy Digital and received approximately 2,455 BTC (worth approximately $265 million) in return.
Jump Crypto has long been known as one of the most talked-about market-making companies in the cryptocurrency market. The company has a particular focus on the Solana side, so the transaction seems surprising.
According to Onchain data, the company currently holds $994 million worth of cryptocurrency, $395 million of which is in Bitcoin. This latest transaction means the company has shifted the majority of its assets to BTC.
Among its assets, Solana comes in second with $221 million and the stablecoin USDC comes in third with $125 million.
The company also holds a relatively small amount of Ethereum, at $55 million. Interestingly, Jump Crypto also holds a significant amount of Donald Trump-linked cryptocurrencies WLFI and USD1.
*This is not investment advice.
