Galaxy Digital is actively purchasing Solana (SOL) tokens, investing significant funds in the cryptocurrency despite current market volatility.
Galaxy Digital's Purchase Volume
In the last 30 hours, Galaxy Digital has acquired around $300 million worth of Solana through 15 transactions on centralized exchanges including Binance, Coinbase, and Bybit. In total, over the past five days, the company has purchased about 6.5 million SOL, equivalent to approximately $1.57 billion at current market prices. During this period, Galaxy also moved millions of SOL to other addresses, primarily custody wallets on Fireblocks, indicating long-term holding intentions.
Solana Price Decline
Despite Galaxy’s aggressive purchasing, Solana dropped 1.61% in the last 24 hours and is currently priced at $243.23. This temporary dip shows that even large institutional purchases cannot always prevent short-term market volatility.
Strategic Cooperation of Galaxy
Last week, Galaxy, along with Jump Crypto and Multicoin Capital, led a private placement worth $1.65 billion in Nasdaq-listed Solana digital asset treasury company Forward Industries (FORD). Collectively, the three firms subscribed over $300 million. They plan to provide Forward Industries with both capital and strategic support, aiming to make the company a leading publicly traded institutional participant in the Solana ecosystem. While some analysts link Galaxy’s SOL purchases to Forward Industries’ treasury strategy, this connection has not yet been fully verified.
With increasing institutional interest, Solana may play an even larger role in the cryptocurrency market, particularly for investors seeking long-term opportunities.
