Galaxy Digital Accumulates $1.2B+ in Solana, Price Soars

Galaxy Digital Accumulates $1.2B+ in Solana, Price Soars
Galaxy Digital Accumulates $1.2B+ in Solana, Price Soars

Main notes

  • Galaxy Digital gets 1.2 million Solana in one day, at a value of $ 306 million.
  • The total purchases of Solana reached 6.5 million coins in five days.
  • Solana is trading approximately $ 236 and gets 25 % during the past month despite the slight daily decline.

Galaxy Digital bought 1.2 million Solana

Teller
234.7 dollars



24 hours fluctuation:
4.4 %


The maximum market:
127.33 dollars b



Folder. 24h:
$ 10.76 b

With a value of about $ 306 million, in the past 24 hours. The new step adds to a purchase boom that the investment company has believed in approximately 6.5 million Solana in just five days. The total value of these purchases has now been linked to about $ 1.55 billion.

Galaxy Digital Solana Holdings expands

Data from Lokonchain reveals that the recent Solana purchases of 1.2 million years have been made to several stock exchanges on September 14 before being transferred to the Fireblocks checkpoint, a company known for detention.


Data on the series show that Galaxy was buying Solana in blocks ranging from tens of thousands to hundreds of thousands of symbols. According to the update, the value of each treatment is millions of dollars. I surprised the pace of purchase in the market.

It should be noted that Galaxy does not make these moves in isolation from others, but with a large hunting associated with industry partners. The company recently joined Multicoin Capital and Jump Crypto to form a new Crypto Treasury. The goal is to build reserves of digital assets, and Solana has become the focus of this batch.

In addition, Galaxy Digital has invested in the front industries. Forward, who started as a medical hardware maker, has now turned his focus into digital assets. As we mentioned earlier, attacking industries raised $ 1.65 billion through a special situation. The company said its goal is to become one of the largest Solana holders.

However, it is still unclear whether the SolaNA purchases of Galaxy are directly linked to the front plan. However, the timing of purchases raised questions. Galaxy did not comment on this link. Regardless of the latest purchase activity, Coinspeaker noticed that Galaxy Digital has withdrawn $ 40 million from Solana after a short period of 12.35 billion dollars in the total value of the total value of Defi (TVL).

The adoption increases as it holds the price of a strong Solana

This step is not limited to Solana on Galaxy Digital. Other companies were also building treasury bonds with Solana. Defi Development Corp said it now owns more than two million Solana after spending $ 117 million over eight days. Industry voices, such as Helius Mert Mumtaz, estimated that Crypto Treasury companies have already raised between 3 billion and 4 billion dollars to focus on Solana.

There are also signs of broader adoption. In September, Galaxy Digital became the first company listed on the Nasdaq Stock Exchange to be drawn on Solana Blockchain. This was an important step for Solana as it continues to attract attention from the financing and traditional technology sectors.

The network itself shows strength. The closed total value on Solaa reached $ 12 billion this month. This places it second after Ethereum in terms of decentralized financing activity. This increased use helped support its price.

Solana is trading about $ 236, according to Coinmarketcap. More than 13 % increased last week and about 25 % during the past month. The price decreased by 3.8 % last day, but in general, expectations are still positive, as more people and institutions show attention.

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Slip: Coinspeaker is committed to providing unbiased and transparent reports. This article aims to provide accurate and timely information, but it should not be considered financial or investment advice. Since market conditions can change quickly, we encourage you to check your information and consult with a professional before making any decisions based on this content.

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Benjamin Jodfrey is a blockchain lover and journalist who enjoys writing about the real life applications of Blockchain technology and innovations to pay public acceptance and complementarity all over the world for emerging technology. His desire to educate people about encrypted currencies inspire his contributions to the media and famous sites in Blockchain.

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