Accelerate is a new Solana treasury fund company, expected to raise 1.5 billion USD with Joe McCann as CEO.
This company will list through a SPAC merger, holding over 7 million SOL worth approximately 1.36 billion USD, becoming the largest SOL treasury fund. At the same time, the shift of funds towards Ethereum and altcoins is also clearly recorded.
MAIN CONTENT
Accelerate is expected to raise 1.5 billion USD, Joe McCann as CEO, aiming to become the largest Solana fund.
Cryptocurrency investment flows are shifting from Bitcoin to Ethereum and altcoins, with ETH trading volume surpassing BTC.
Cryptocurrency liquidity funds are changing strategies, closing funds, and shifting to long-term investments in Blockchain infrastructure.
Accelerate is a new Solana cryptocurrency treasury company, what makes it special?
Accelerate, founded and run by Joe McCann, aims to raise a total of 1.5 billion USD through SPAC and PIPE, expected to become the largest Solana treasury fund with nearly 7.32 million SOL.
Information from investors indicates that the fundraising plan has been meticulously prepared for several months, with the transaction expected to be completed before the end of 2025. This amount of SOL is equivalent to approximately 1.36 billion USD at current prices, enhancing Accelerate's position as a leading fund manager in the Solana ecosystem.
"We are building the largest treasury fund for Solana in the market, aiming to take advantage of long-term growth opportunities in the ecosystem and increase liquidity for the community."
Joe McCann, CEO of Accelerate, 2024
Current cryptocurrency investment trends: How is it shifting from Bitcoin to Ethereum and altcoins?
The latest data from CryptoQuant shows that Ethereum's spot trading volume has surpassed Bitcoin for the first time in over a year, with 25.7 billion USD compared to Bitcoin's 24.4 billion USD in the most recent week.
This reflects the capital shift of investors from Bitcoin to Ethereum and many other altcoins, aiming to seek stronger growth opportunities in smart contract platforms and more diverse tokens.
"The fact that ETH trading volume has surpassed BTC for the first time in the past year shows that investors are valuing the potential and diversifying their portfolios into cryptocurrencies beyond Bitcoin."
CryptoQuant, Cryptocurrency Market Report, 2024
How are cryptocurrency liquidity funds changing their strategies in 2024?
Joe McCann gradually closed the Liquid Alpha fund after it incurred significant losses and was no longer aligned with investor interests, shifting focus to long-term investments in Blockchain infrastructure.
The company's new strategy emphasizes supporting early-stage blockchain projects through venture capital, while history shows that the cryptocurrency market has reduced volatility by 30% over the past 12 months, demonstrating greater maturity and stability.
What other notable activities are happening in the cryptocurrency and blockchain market?
Tron Inc. will hold a bell-ringing ceremony to open the Nasdaq on July 24, 2025, marking its transformation into a blockchain technology company. Tesla reports holding Bitcoin worth approximately 1.2 billion USD with 11,509 BTC, ranking 10th among businesses holding the most Bitcoin.
Large institutions are also increasing their ETH and Bitcoin holdings, such as BitMine aiming to hold 5% of global Ethereum supply, recording over 1 billion USD investment in ETH. Coinbase will list JITOSOL and MPLX on its platform, supporting tokens within the Solana ecosystem.
Asset Type Holdings Estimated Value (USD) Notes Accelerate SOL 7.32 million SOL 1.36 billion Largest projected Solana treasury fund Tesla Bitcoin 11,509 BTC 1.2 billion Q2/2024, ranked 10th in Bitcoin holdings BitMine Ethereum 5% of projected supply Over 1 billion Focus on accumulating ETH for businesses
Frequently Asked Questions
How does Accelerate raise funds and what are its goals?
Accelerate is expected to raise 1.5 billion USD through a SPAC merger and PIPE to establish the largest Solana treasury fund, enhancing liquidity and supporting ecosystem development.
How has the trading volume of Ethereum compared to Bitcoin changed?
Ethereum has surpassed Bitcoin's trading volume in the spot market for the first time in over a year, indicating a shift of funds towards smart contract platforms and altcoins.
How has the investment strategy of large cryptocurrency funds changed in 2024?
Many funds are closing or redirecting from short-term liquidity trading strategies to long-term investments in blockchain infrastructure and early-stage venture projects.
Which businesses currently hold large amounts of Bitcoin or Ethereum?
Tesla holds 11,509 Bitcoin worth approximately 1.2 billion USD; BitMine aims to accumulate 5% of global Ethereum supply worth over 1 billion USD.
What new updates are cryptocurrency exchanges providing for users?
Coinbase will support the transfer and trading of JITOSOL and MPLX tokens by the end of July 2025, expanding the listed Solana asset network.
Source: https://tintucbitcoin.com/tin-nong-thi-truong-tien-dien-tu-23-24-7/
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