Galaxy Digital has made a major investment in Solana (SOL), purchasing $300 million worth in 13 transactions across major exchanges, bringing its total acquisition to over 6.5 million SOL (~$1.57 billion) in just five days. This is part of a broader Solana-focused strategy, which includes leading a $1.65 billion private placement for Forward Industries alongside Jump Crypto and Multicoin Capital. The SOL assets are being moved into custody wallets on Fireblocks, indicating a long-term holding strategy and positioning Forward Industries as a key institutional player in the Solana ecosystem.

Novogratz: “Season of Solana” Begins

Galaxy Digital CEO Mike Novogratz called the current market the “season of Solana,” highlighting its speed and low costs as key advantages for Wall Street adoption. He pointed to recent comments from SEC Chair Paul Atkins suggesting most crypto tokens may not be securities—a major shift from past regulatory views. Novogratz believes this regulatory clarity will boost institutional interest, especially in blockchains like Solana that don’t need Layer 2 solutions to scale efficiently.

Analysts Eye $300 as Next Solana Target

With SOL trading around $233.15, the token has climbed 12% in the past week and over 23% in the past month. Analysts suggest that a breakout above $253 could pave the way toward $272–$300, levels last seen in late 2023.

SOL's price trends to the upside on the daily chart. Source: SOLUSD on Tradingview

Matt Hougan, CIO at Bitwise, noted that spot Solana ETFs awaiting SEC approval could unleash further inflows by October. He compared the momentum to Bitcoin’s treasury-driven rallies, saying Solana’s unique blend of speed, scalability, and institutional interest could amplify its price trajectory.

For now, Solana sits just 16% below its all-time high, with bullish technical indicators supporting the case for another leg upward. If Galaxy’s buying spree continues and regulatory clarity arrives, September could introduce another Solana rally.

Cover image from ChatGPT, SOLUSD chart from Tradingview

#solana #SolanaAI #SolanaUSTD $SOL #CryptoNew #NewsAboutCrypto