According to recent reports, three major investment firms, Galaxy Digital, Multicoin Capital, and Jump Crypto, are developing a plan to raise $1 billion to purchase Solana tokens.
Plans for Fundraising
As reported by Bloomberg, these companies aim to establish the largest treasury dedicated to Solana. They have engaged Cantor Fitzgerald as the lead banker for this initiative.
Support from Solana Foundation
Bloomberg also stated that the Solana Foundation supports the companies' efforts, endorsing the treasury formation and providing additional validity to the plans for Solana's growth.
Current Situation with Solana
Currently, Solana (SOL) is the sixth-largest token by market capitalization and trades at approximately $200, having increased by 6.6% over the last 30 days.
While the project is still developing, the efforts by Galaxy Digital, Multicoin Capital, and Jump Crypto could significantly impact Solana's standing in the digital asset market.
