Solana increases again when Galaxy Digital buys more than $ 700 million in sun

The Galaxy Digital investment firm has bought more than $ 700 million in Solarium In the last two days, as part of its investment in the firm of the Treasury of Sol Forward Industries. And the price of Solana has continued to increase, all the time.

Galaxy has been transferring mainly of Binance, and also coinbase, multiple transactions rods, with Arkham Intelligence data indicating that he has bought just over 3 million sun since Wednesday.

The asset manager may be making these purchases on behalf of the industries forward, in which Has brought an investment of $ 1.65 billionwith the participation of Jump Crypto and Mulicoin Capital.

Incorporated in 1961, Forward is a product design company that is quoted in Nasdaq that is using the entry of this week to build what will be the world’s largest Solana treasure, with Galaxy responsible for acquiring and transferring most of the sun.

Galaxy’s collaboration with the firm occurs when it has a more acute interest in Solana, which described as “positioned exclusively to feed the next generation of capital markets” in A tweet that announces its investment.

The founder and CEO of Galaxy, Mike Novogratz, also discussed the merits of Solana in An interview with CNBC’s Box On Thursday, declaring that the Solana block chain can process “14 billion transactions” per day.

In short why Galaxy is excited about Solana, he said: “You have a block chain that is now fast enough, tailored to be the block chain for financial markets.”

Then he referred to the comments made by the president of the SEC, Paul Atkins, who on Wednesday gave An opening speech in which the agency argued Crypto project push-His “scanning initiative” to encourage “our markets to move in the chain.”

And due to the alignment of these two factors, Novogratz said that he is calling the current period “the sun season.”

This belief in Solana is reflected in the size of the increase of $ 1.65 billion forward industries, in which Galaxy has assumed a main role. And such belief can have a snowball effect, with the co-cement of Solflare and the co-founder Vidor Gencel that says Decipher which is a “clear sign” of institutional conviction in Solana.

“Almost triple the largest existing Solana Treasury size, this movement marks one of the largest institutional bets in Solana to date, underlining the growing confidence among traditional companies in the long -term value of the sun, and we are already seeing the market position ahead of possible tickets,” he said.

Solana currently increases by 6% in the last 24 hours, increasing above $ 241 for the first time since January in the back of the Forward’s announcement of its completed increase of $ 1.65 billion. Sol has increased by almost 19% during the last week, which makes it the second largest winner among the 10 main market assets, behind Dogecoin.

According to Gencel, the Galaxy approach in Solana is a sign that Sol is now being “seriously considered” as a treasure asset for institutions, while only Bitcoin and Ethereum had been main contenders.

Other industry figures agree that Galaxy’s new interest in Altcoin is a strong signal for other institutions that Solana is invertible at scale.

“The network is watching record activity, Defi TVL growth and the great traction of the ecosystem,” said Satraj Bambra, co -founder and CEO of Trading Platform Rails. “This is not just a trade, it is a vote of confidence that Solana will be a central layer of the cryptographic economy in the future.”

This could have a great impact on the sun’s price in the future, with Bambra suggesting that the purchase of Galaxy “starts a steering wheel.” He added that the Potential ETF of Solana, who expect the approval of the SEC, “could open the gates for a new demand.”

When combined with updates that are approaching as Bonfire—In New Validator Client that will increase the yield of Solana and improve the stability of the network: the approval of Sol ETFS could be an important catalyst.

“In the short term, I see that sun monitoring flows and ETF holders; in the long term, it is the growth of use and consolidating itself as an asset of the 3 best,” Bambra concluded.