The Solana prize is holding strong, while Galaxy Digital increases his push on the millions of dollars to build a special Solana Treasury.
Summary
- Solana Price Outlook remains Bullish because it is traded near $ 240. An increase of 16% in a week, where analysts viewed a breakout of $ 245 – $ 250 and potential relocation to $ 270+.
- Galaxy Digital, via Forward Industries, bought 4.3 million Sol in three days and increased the total at 6.5 m SOL worth an estimated $ 1.55 billion.
- Institutional demand burns Marktrang as rapid accumulation helped to push the market capitalization of Solana past BNB, making Sol the fifth largest cryptocurrency.
Galaxy Digital has bought another 4.3 million Sol through its Solana Treasury Vehicle Forward Industries, worth around $ 1.1 billion. According to On-Chain Tracker Lookonchain, the accumulation took place for a period of three days, after the Sol of $ 486 million that he received in a single 24-hour window earlier in the week.
The last activity increases the total interest of Galaxy to around 6.5 million Sol (SOL), with a value of approximately $ 1.55 billion against current market prices, the majority of which have been moved to institutional detention on Coinbase Prime.
Earlier this month, Forward Industries collected $ 1.65 billion to create a Solana Treasury under the leadership of Galaxy Digital, in collaboration with two other entities Multicoin and JumpCrypto. Because much of that capital has already been deployed within a week, the Fund for Expectations is racing and it offers a clear in the wind in the vicinity of Solana.
Galaxy’s rapid accumulation coincides with the constant price strength of Solana, who pushed the token to fresh highlights and has abolished its market capitalization, recently became the fourth largest cryptocurrency.
Solana Price Outlook
Solana acts around $ 240 at the time of writing, per market data of crypto.news. Although it is actively falling around 2.58% in the day, it will continue to rise by around 16% in the past week, which extends the strong momentum of the network in mid -September.
The token holds well above his breakout level of early month near $ 215. Sol recently erased a key resistance zone around $ 220, which sets up a new ceiling in the range of $ 245 – $ 250. A decisive closure above that level can open the road to $ 270 or even $ 300 in the coming weeks.
Support would be firm in the $ 220 region if bulls defend the prize during Intraday refund. However, not maintaining that floor can cause a sharper correction to $ 210 or even $ 200, especially if the market is weakened or profitable.
For now, the Fundamentals of Solana Prize will remain strong. The total value of SOL, locked in Defi protocols, has reached record heights above $ 13 billion, while capital continues to flow in its ecosystem, and the growing institutional interest rate adds a different demand layer that can help to push the profit higher.
