Galaxy Digital has purchased 6.5 million Solana (SOL) in just five days, valued at around $1.53 billion. The aggressive buying included 1.2 million SOL within the last 24 hours alone, according to Lookonchain. Despite these moves, Galaxy’s shares slipped 1.7% in pre-market trading, echoing Solana’s 5% decline over the same period.
The bulk of these acquisitions were transferred to Fireblocks and Coinbase Prime custody wallets, signaling a long-term holding approach. This spree adds to earlier investments exceeding $1.5 billion, reinforcing Galaxy’s commitment to Solana’s ecosystem.
The firm also spearheaded a $1.65 billion placement for Forward Industries, a Solana-focused treasury project, alongside Jump Crypto and Multicoin Capital. Galaxy has further revealed plans to tokenize its shares on Solana, underscoring its focus on blockchain-driven infrastructure.
Conclusion
Galaxy Digital’s bold Solana strategy highlights its confidence in blockchain adoption, but traditional investors appear more cautious, as reflected in short-term stock moves.
Takeaways:
Galaxy Digital acquired 6.5M SOL worth $1.53B in five days.
Purchases were moved to long-term custody wallets.
Firm led a $1.65B Solana treasury initiative.
Plans include tokenizing its own shares on Solana.
Stock dipped despite major crypto push.
Source: Crypto Front News
