The institutional demand for Solana is warm, while large players continue to break large quantities of token.
Summary
- Solana Treasury initiatives gain strength, with Forward Industries, via Galaxy Digital, who buy around 2.2 million Sol, worth around $ 486 million.
- Forward Industries has recently concluded a private placement of $ 1.65 billion to finance Solana acquisitions, with Multicoin Capital and Jump Crypto that become members of Galaxy Digital as important backers.
- Institutional Solana Treasuries are now a total of 10.27 million SOL, worth $ 2.44 billion, over several entities.
Galaxy Digital has made heavy SOL purchases to finance a new saturated Solana Treasury vehicle. For each data from On-Chain Datatracker Lookonchain, the company bought a total of 2.2 million SOL on 12 September, worth around $ 486 million at the time of acquisition.
Blockchain -data From Arkham Intelligence shows that the SOL (SOL) came from large fairs, with large tranches that moved from Binance and Coinbase Hot Wallets to the custody of Galaxy Digital.
The purchases follow previous reports from the wider Galaxy plan to set up a dedicated Solana Treasury company via Forward Industries, which serve both the main investor and strategic partner, in collaboration with Multicoin Capital and Jump Crypto.
As part of the mission, Forward Industries recently concluded a private placement of $ 1.65 billion, now bet on long -term accumulation of SOL. According to the company, the proceeds will not only finance the new cryptocurrency treasury operation and direct SOL expertise for working capital, but also cover future transactions and related costs, which position ahead for a considerable interest in the Solana ecosystem.
Galaxy Digital Treasury Holdings rises beyond $ 2.4 billion
The newest purchase of Galaxy Digital comes to continue to swell as institutional Solana Treasuries, with now about 14 verified entities to cling 10.27 million SOL worth around $ 2.44 billion. This figure represents approximately 1.79% of the total range of Solana, a sharp climb from the beginning of September, because more companies are committed to long -term exposure to chains.
The biggest holders are an eclectic mix of public companies and specialists in the field of digital asset. Sharps Technology is at the top of the list of approximately 2.14 million SOL, around $ 508 million, followed by Defi Development Corp, which recently made a purchase of $ 40 million that pushed its interests above the 2 million SOL marking.
Together these treasury vehicles have been on a steadily upward route, and rises from around 9.6 million SOL on 5 September to today from 10.27 million. This growth reflects a wider trend of institutions that add Solana methodically to their balance sheets this month, indicating that large -scale accumulation only speeds up as the institutional market of Solana speeds up.
The price promotion of Solana reinforces the institutional offer. Sol trades at the time of writing around $ 237.2, an increase of 6.27% in the last 24 hours and 16.13% in the past week, extending the monthly climb. Because large companies steadily double on their various Solana Treasury strategies, this wave of institutional demand could further increase prices, offer support for higher levels and increase the chance of testing key resistance almost $ 265 and then.
