Galaxy Digital Makes Massive Solana Purchases
Galaxy Digital, Mike Novogratz’s digital asset management company, has made significant Solana acquisitions on behalf of Forward Industries for its Solana treasury plan. In the last 24 hours, the two companies purchased 2,159,182 SOL worth approximately $486 million.
This move underscores SOL’s growing importance as a distinctive treasury asset, largely due to the Solana blockchain’s capability to process 14 billion transactions per second—surpassing transaction volumes across stock, bond, commodity, and currency markets.
Following the release of weaker-than-expected PPI data in the United States earlier this week, the crypto market has shown strength. Against this backdrop, SOL stands out with a 15% increase on the weekly chart. SOL’s price continues its upward trajectory with an additional 6% gain, with daily trading volume surging 27% to reach $11.46 billion. This trend indicates strong positive sentiment among traders.
SOL’s Dominance in the Crypto Market
Data from Coinglass indicates that open interest in SOL futures contracts has increased by 7.28% to reach $16.41 billion. According to renowned crypto analyst Javon Marks, if SOL‘s price maintains above $233, it could create conditions for another 100% rally to $457.
Meanwhile, the Solana blockchain is reaching new milestones in the decentralized finance (DeFi) space with total value locked (TVL) exceeding $13 billion for the first time. All eyes are on the anticipated launch of the new Solana spot ETF next October, pending approval from the US SEC.
The sharp rise in FORD stock, fueled by massive SOL purchases, highlights Solana’s growing importance as a preferred treasury asset. With SOL’s rally dominating the crypto market and the impressive performance of the Solana blockchain in the DeFi space, investors have good reason to be optimistic about the future of this technology. It remains to be seen whether the anticipated approval of the Solana spot ETF by the US SEC will further strengthen the positive momentum surrounding SOL.
How to Buy Solana (SOL) on Zoomex?
Buy SOL on Zoomex now and benefit from the bullish momentum of the Solana blockchain. Here’s a buying guide:
- Registration and verification: Create an account on Zoomex via the website or mobile app. Provide an email address and activate two-factor authentication (2FA) to secure your account. Complete KYC verification to increase your trading limits.
- Deposit funds: Add funds via bank card, SEPA transfer, or crypto transfer from another wallet. Zoomex accepts numerous fiat currencies to facilitate access to SOL.
- Buying SOL: Go to the “Spot Trading” section and select the SOL/USDT or SOL/EUR pair. Indicate the amount to invest. Choose a market order for immediate execution or a limit order for a specific price.
- Secure storage: Keep your SOL in Zoomex’s integrated wallet, or transfer them to an external hardware wallet for maximum security.
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