Sol Strategies has announced the launch of a reserve fund for the Solana ecosystem by acquiring 52,181 Jito tokens. This initiative aims to support network infrastructure through MEV and staking programs.
Acquisition of Jito Tokens
On June 26, the Canadian firm Sol Strategies confirmed the purchase of 52,181 Jito tokens. These tokens constitute the first assets in the reserve, which will be funded by validator revenues. Jito leads in transaction-ordering services and liquid staking, holding over $2.6 billion in total value locked according to DeFiLlama. CEO Leah Wald stated that the reserve aims to invest in teams necessary for developing blockchain infrastructure.
Trading Status of Solana
Currently, Solana (SOL) is trading at $141.36 USDT, showing a modest intraday gain of 1.65%. However, the asset has declined approximately 20.14% over the last month and 27.82% over the past six months. Prices remain below both the 50-day and 200-day moving averages, indicating a bearish medium-term trend.
Institutional Interest in Solana
Institutional interest in Solana continues to grow. The launch of micro futures for Solana and XRP by Robinhood, alongside recent filings by Invesco and Galaxy for a Solana ETF, suggests an increasing acceptance of the asset in traditional financial markets. Market participants are speculating on a positive demand shock based on potential ETF approval.
The launch of the reserve by Sol Strategies and the growing institutional interest highlight Solana's evolution as a key player in the crypto industry. These developments could shift market sentiment and support sustained growth.
