Galaxy Digital, Jump Crypto back $1.65B SOL treasury as whales shore up supply

Solana (SOL) rallied over 5% on Tuesday morning while Bitcoin (BTC) and Ethereum (ETH) remained marginally up. On-chain data shows that whales and large investors are scooping up SOL after Forward Industries unveiled a $1.65 billion Solana-focused digital asset ￰0￱ Digital, Jump Crypto, and Multicoin Capital will back the ￰1￱ treasury announcement comes as institutions race to bag more Bitcoin and ￰2￱ accumulation has already set up the hype that led BTC and ETH to hit fresh all-time highs (ATHs) ￰3￱ TVL jumps 6% as whales accumulate Data shared by Lookonchain shows that two whale wallets withdrew 376,076 SOL (worth $80.7 million) from Binance in the past 24 ￰4￱ shifted the tokens to Kamino, a Solana-based yield ￰5￱ shows that Solana’s total value locked (TVL) surged by almost 6% over the last day to stand at $12.2 billion, while Ethereum’s TVL dipped by 1.5%.

SOL’s TVL spiked over 15% over the past ￰6￱ the other hand, Ethereum’s dropped by 2% to stand at $89.8 ￰7￱ L1 is the top grosser among the biggest 10 ￰8￱ TVL grew by 20% in the last month to hover around $2.6 ￰9￱ SOL wallets are moving supply off exchanges for long-term storage.). The global digital assets market printed a marginal green index all ￰10￱ cumulative crypto market cap is inching toward the $4 trillion ￰11￱ your project in front of crypto’s top minds? Feature it in our next industry report, where data meets impact.