Galaxy Digital pumps millions into Solana – SOL takes off

Solana has gained over twelve percent within just a few days – and the reasons for this extend far beyond short-term speculation. Asset manager Galaxy Digital has accumulated over $100 million worth of Solana since last week.
According to data from Arkham Intelligence, Galaxy Digital currently holds 550,000 SOL, worth $128 million. At one point, Mike Novogratz's company held as many as 908,000 SOL.
The background is the creation of the world's largest Solana treasury, called Forward Industries. In addition to Galaxy Digital, Jump Crypto and Multicoin Capital are behind the project, which has already raised $1.65 billion.
Forward Industries itself currently holds 4.7 million SOL, valued at $1.1 billion. Galaxy describes Solana as “tailor-made for the financial markets”—fast, cheap, and scalable.
With a weekly gain of 12.4 percent, Solana (SOL) is one of the top performers of the ten largest cryptocurrencies – and the rally could continue.
In addition to the flood of capital, technical upgrades are also strengthening the bullish narrative: With the Firedancer client and the Alpenglow upgrade, Solana is poised for a massive performance leap. Analysts see this as the prerequisite for the next wave of adoption – not only in the DeFi sector, but also in tokenization and stablecoins.

With a weekly gain of 12.4 percent, Solana (SOL) is among the top performers among the ten largest cryptocurrencies. Solana has already risen by 24 percent this year.
If a spot ETF for Solana is launched, as proposed by Galaxy Digital, capital inflows could increase further. The decisive SEC decision is expected in October.
Those who want to get in on the trend early can buy SOL, among other platforms, at Bitpanda – a regulated provider based in the EU. Especially with regard to potential institutional follow-on purchases, getting in before ETF approval could be worthwhile.

Recommended Video What REALLY happens to Bitcoin when Wall Street gets in