Galaxy Digital buys $ 306 million in Solana to feed Treasury -Push

Galaxy Digital buys $ 306 million in Solana to feed Treasury -Push

Galaxy Digital bought $ 306 million in Solana on one day, part of a $ 1.55 billion Spree, while Solana Treasuries rise in public companies.

Galaxy Digital has made a huge gamble on Solana. The investment company bought $ 306 million in one day, as part of an accumulation that has collected $ 1.55 billion in the last five days.

Why buy Galaxy Digital Solana

The purchase of one day included 1.2 million SOL tokens purchased over several trade fairs. Blockchain data that is followed by Lookonchain shows that the tokens were later sent to fire blocks.

The scale of the relocation shows the continuous focus of Galaxy on Solana as the ecosystem attracts more institutional players.

The buying Spree also coincides with the involvement of Galaxy with a private placement of $ 1.65 billion for forward industries.

Galaxy joined forces with Multicoin Capital and Jump Crypto to support the new direction of Forward. Although the company has not confirmed a direct connection between its Solana purchases and the forward deal, the timing has been a source of speculation that is connected to the two.

Forward Industries’ Stock (Nasdaq: Ford) rose 16% on the news last week. The company’s share price has now increased by more than 600% this year, despite weak financial data, including a turnover decrease of 50% and strong losses.

Solana Treasuries are expanding quickly.

Galaxy Digital is not only in chase Solana as a Treasury activum. Other companies also build large positions.

Defi Development Corp recently demonstrated that it has collected more than 2 million SOL, worth more than $ 117 million.

Consumer Products Company, Upexi Inc., has also become a Solana Treasury holder and now has more than 2 million SOL with a value of $ 447 million. The company also collects daily rewards of around $ 105,000.

Bit Mining Limited is preparing for Rebrand as Solai Limited and recently added 17,221 SOL this week. This has brought its companies to more than 44,000 SOL.

The company is planning to pick up $ 300 million to expand its Solana Treasury and has launched a stablecoin called Dolai in collaboration with Brale Inc.

Institutional support for Solana

The recent wave of treasury activity shows that Solana is getting strength in institutional crypto strategies. The network now secures more than $ 12 billion in total value and, according to Defillama, is the second alone for Ethereum.

Mert Mumtaz, CEO of Helius, said that on Solana-oriented Treasury companies so far have collected between $ 3 billion and $ 4 billion, with more expected.

These figures indicate a rising appetite for Solana as a business -active and are comparable to how Bitcoin became a Treasury choice for companies such as MicroSstratey.

Galaxy Digital itself is more connected to Solana. Earlier this month it was the first company listed by the Nasdaq to be taught on the Solana blockchain, in another milestone in the expansion of the network.

Solana -Price payments of the institutional question

The price of Solana has gathered in addition to the increase in the adoption of Treasury. According to For Coinmarketcap, Sol has risen by more than 9% last week and almost 30% in the past month and acts at $ 234.77 at the time of the press.

This upward trend comes as companies continue to absorb large quantities of delivery. Galaxy Digital Only bought 6.5 million Sol in just five days. If more companies adopt Solana as a Treasury activum, buying pressure can support further price growth.


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