Large investment funds plan to buy $1 billion in Solana

Three of the most influential cryptocurrency companies, Galaxy Digital, Jump Crypto, and Multicoin Capital, are negotiating to raise a treasury fund worth $1 billion to buy and hold Solana ($SOL ). This is considered the largest reserve of digital assets ever dedicated to Solana, backed by the Solana Foundation.

Strategy and Benefits

This effort is likened to the approach of #MicroStrategy with Bitcoin, demonstrating that holding digital assets on corporate balance sheets is a wise investment strategy. Solana is viewed as an attractive financial option due to its high staking rate (over 7%), providing superior yields compared to traditional investments.

However, despite this positive news, the price of Solana did not react and even decreased by nearly 6% due to the impact of a Bitcoin sell-off by whales last weekend.

Market Sentiment and Outlook

Futures market data shows a contradiction between the news and price action. Open interest for #solana has reached a record $6.34 billion, indicating that investors remain optimistic about the long-term outlook of this asset. Liquidation data also confirms that the majority of liquidated positions are long positions (betting on rising prices), indicating strong speculation within the community.

Although this deal could set an important precedent in the long term, its short-term impact is still overshadowed by the overall market volatility. #anh_ba_cong