Galaxy Digital has again caught attention with its investments in Solana, purchasing 2.15 million SOL tokens for $486 million in just 24 hours.
Galaxy Digital's Purchase Volume
Galaxy Digital acquired 706,790 SOL valued at approximately $160 million. The total purchases over 24 hours amounted to 2.15 million SOL, totaling $486 million.
Reasons for SOL Accumulation
There are several possible reasons why Galaxy Digital is stacking up on SOL:
- Network Growth: Solana has shown tremendous growth in DeFi, NFTs, and overall transaction volume.
- Competitive Edge: With its low fees and fast transaction speeds, Solana is being seen as a serious Ethereum alternative.
- Institutional Strategy: Galaxy Digital might be positioning itself ahead of a potential broader market rally.
Market Impact
Big buys like these don’t just stay under the radar—they impact market sentiment. Traders and investors may see Galaxy’s move as a sign of confidence, potentially leading to more interest in SOL. If this trend continues, Solana might be heading toward another major price movement.
Galaxy Digital's investments in Solana underscore the growing interest of institutional investors in this network, which could positively affect its price in the future.
