Recent data shows that investment firm Galaxy Digital has significantly increased its investments in Solana tokens, attracting the attention of investors and analysts.
Volume of Galaxy Digital's Purchases
According to data from Lookonchain, over the last five days, Galaxy Digital acquired approximately 6.5 million SOL tokens valued at around $1.57 billion at current market rates. These purchases were made through major platforms including Binance, Coinbase, and Bybit.
Connection with Forward Industries
The SOL acquisitions were executed via large purchases on centralized exchanges and subsequently transferred to secure storage. Galaxy Digital also participated in a private funding round for Forward Industries, alongside Jump Crypto and Multicoin Capital, contributing more than $300 million. These investments are aimed at supporting strategies related to Solana's treasury. A formal statement from Galaxy Digital is expected to clarify this connection.
Solana Market Response to Purchases
CryptoAppsy reports a decrease in SOL's price, dropping by 1.77% to $242.30 over the past day. The transaction volume also declined by 2.48%, starting the week at $8.12 billion. Market analysts attribute this reduction to weekend trends.
Galaxy Digital's investments in Solana and the funding for Forward Industries highlight the growing interest in this cryptocurrency. However, further clarifications from Galaxy Digital may shed light on the company's future directions in this area.
