Galaxy Digital's trading platform has completed a significant transaction involving Solana tokens, actively fueling interest in the Solana ecosystem and its development.
New Acquisitions by Galaxy Digital in Solana
Galaxy Digital acquired 1.2 million Solana (SOL) tokens worth $306 million in a single day on Sunday. The firm's total purchases over the past five days have now reached about 6.5 million SOL valued at approximately $1.55 billion. The tokens were distributed across multiple exchanges and transferred to the crypto custody platform Fireblocks.
Partnership with Multicoin Capital and Jump Crypto
These purchases follow the announcement of a partnership between Galaxy Digital, Multicoin Capital, and Jump Crypto to form a treasury-focused initiative. The firms are also involved in a $1.65 billion private placement for Forward Industries, a medical device company that recently shifted its focus to digital assets.
Accelerating Solana Adoption
The Solana ecosystem is experiencing rapid growth, with a total value locked (TVL) in DeFi projects reaching $12 billion. The Solana token has increased by 17.3% in the past week and nearly 30% over the past month. According to Helius, firms engaging with Solana treasuries have cumulatively raised between $3 and $4 billion.
Galaxy Digital's large purchase and the surging market capitalization of Solana highlight the growing interest from institutional investors and users in this blockchain platform.
