✔ Big Purchase Alert:
SOL Strategies Inc. (Ticker: HODL on the Canadian Stock Exchange), a company focused on supporting the Solana blockchain, just bought 122,524 SOL coins worth $18.25 million at an average price of $148.98 per token.
✔ Why It Matters:
This investment follows the company's announcement of closing the first $20M from a planned $500M convertible note facility (a form of corporate debt that can later convert into shares).
✔ CEO Statement:
Leah Wald, CEO of SOL Strategies, said this move aligns with their three-pronged strategy:
Enterprise-grade validators (powerful computers that verify transactions on the blockchain)
Strategic holdings of SOL tokens (long-term investment in Solana’s native coin)
Support for Solana-based innovation and technology
𝗠𝗲𝗺𝗲𝗰𝗼𝗶𝗻 𝗕𝗼𝗼𝗺 𝗳𝘂𝗲𝗹𝗶𝗻𝗴 𝗦𝗼𝗹𝗮𝗻𝗮'𝘀 𝗥𝗲𝘃𝗲𝗻𝘂𝗲 𝗚𝗿𝗼𝘄𝘁𝗵
✔ According to VanEck (a global investment firm), most of the Solana network’s current revenue growth is being driven by memecoins.
✔ In fact, memecoins made up 44% of all trades on Solana’s DEXs (Decentralized Exchanges) in January and 35% in April 2025.
✔ When excluding stablecoins (cryptos like USDC designed to stay at $1) and SOL staking tokens (versions of SOL used in DeFi), memecoins made up 99% of Solana trades in January and 95% in April — showing how dominant they are in the ecosystem.
✔ This demonstrates Solana’s strength in high-speed, low-cost trading, even if the sustainability of the memecoin craze is still debated.
𝗗𝗲𝗙𝗶 𝗨𝘀𝗲𝗿 𝗦𝗽𝗶𝗸𝗲 𝗦𝗵𝗼𝘄𝘀 𝗚𝗿𝗼𝘄𝗶𝗻𝗴 𝗔𝗱𝗼𝗽𝘁𝗶𝗼𝗻
✔ Data from Nansen (an on-chain analytics platform) shows that five top Solana-based DeFi (Decentralized Finance) projects — like Raydium, Fluxbeam, Pump.fun, and Jupiter — attracted over 239 million users in just the last 30 days.
✔ This signals massive traction for Solana-based apps, especially among meme traders and DeFi users looking for speed and low fees.
𝗦𝗢𝗟 𝗣𝗿𝗶𝗰𝗲 𝗔𝗻𝗮𝗹𝘆𝘀𝗶𝘀: 𝗪𝗵𝗮𝘁’𝘀 𝗡𝗲𝘅𝘁?
✔ After strong gains in April, Solana (SOL) is currently undergoing a price correction (a short-term dip after a rally).
✔ It’s down 2% in the last 24 hours, trading at around $142 as of May 6.
✔ Key metrics:
Fully Diluted Valuation (FDV): $85B (total potential market cap including all future coins)
Total Value Locked (TVL): $7.6B (total assets locked in Solana-based DeFi)
✔ If support holds above $140, bulls may push price toward $174 in the coming days.
✔ But if price breaks below $142, the next support level is around $125, where buyers may re-enter.
𝗕𝗼𝘁𝘁𝗼𝗺 𝗟𝗶𝗻𝗲:
SOL Strategies' $18M investment reinforces long-term belief in Solana. While memecoins are driving short-term hype, real usage through DeFi and strategic buys could help SOL reclaim momentum. Price action will likely depend on whether $140 holds as a support zone.
