Galaxy Digital’s $306M Solana Purchase Sparks Treasury Strategy Speculation

Galaxy Digital has acquired $306 million worth of Solana (SOL) in a single day, intensifying speculation about the growing role of institutional treasury strategies centered around digital ￰0￱ Expands Solana Holdings Blockchain data revealed that Galaxy purchased 1.2 million SOL on Sunday from multiple exchanges, later transferring the tokens to custody provider ￰1￱ latest buy extends a spree that began midweek, bringing Galaxy’s total Solana acquisitions to $1.55 ￰2￱ purchases come shortly after Galaxy partnered with Multicoin Capital and Jump Crypto in what is described as a “crypto treasury company.” The collaboration coincided with a $1.65 billion private placement round in Forward Industries, a medical device manufacturer that has recently repositioned itself around cryptocurrency ￰3￱ Industries’ Pivot to Solana Forward Industries has drawn attention after establishing a $1.58 billion Solana ￰4￱ firm acquired more than 6.8 million SOL at an average price of $232, making it one of the largest institutional holders of the ￰5￱ move mirrors a wave of companies aiming to position themselves as crypto treasury ￰6￱ of Forward Industries (FORD) rallied 16% over five trading days following the announcement, closing at $36.10 on Friday.

Year-to-date, the stock has surged 620%, reversing years of decline. However, financial filings show ongoing struggles, with revenue down 50% and net margins dropping 329% in the latest ￰7￱ Over Galaxy’s Role It remains uncertain whether Galaxy’s Solana purchases are directly linked to Forward ￰8￱ company did not respond to requests for ￰9￱ the lack of transparency, the timing of the acquisition has fueled market debate about the coordination between institutional players and Solana-focused treasury ￰10￱ Demand for Solana Rising Galaxy’s moves come at a time when Solana is experiencing renewed institutional ￰11￱ September 3, Galaxy Digital became the first Nasdaq-listed firm to be tokenized on the Solana blockchain, underscoring its growing presence in the ￰12￱ firms are also following a similar ￰13￱ Development Corp recently revealed it had acquired over 2 million SOL in a $117 million buying ￰14￱ to Helius CEO Mert Mumtaz, treasury companies focused on Solana have collectively raised between $3 billion and $4 billion to date.

Solana’s Market Momentum Solana continues to strengthen its position in decentralized ￰15￱ more than $12 billion in total value locked (TVL), it is second only to ￰16￱ token has also been on an upward trajectory, gaining 17.3% in the past week and nearly 30% in the past month, trading at $234.77, according to CoinGecko. Disclaimer: This article is provided for informational purposes ￰17￱ is not offered or intended to be used as legal, tax, investment, financial, or other advice