Jefferies gives Galaxy Digital a "buy" rating with a price target of $35

PANews reported on July 23 that according to CoinDesk , Jefferies said in its latest research report that Galaxy Digital ( GLXY ) is expected to gain more benefits with a favorable regulatory environment for cryptocurrencies. Jefferies cited the passage of the GENIUS Act in the United States as an example, believing that this provides a favorable market structure for Galaxy 's business, and gave the company a "buy" rating for the first time with a target price of $ 35 . The report also pointed out that Galaxy has the potential to benefit from the growth in demand for artificial intelligence data centers by leasing CoreWeave 's 393 -megawatt data center in West Texas. Currently, about two-thirds of Galaxy 's corporate value comes from the data center business. GLXY's stock price closed up more than 6% on Tuesday at $ 29.11 , and rose another 3% before the market opened to $ 30 .