$SOL
Jump and Multicoin seek to raise Galaxy, gathering 1 billion dollars to purchase SOL, financing the purchase of SOL, and then linking the SOL ecosystem. This model is similar to the previous hype around Ethereum ETFs, quickly copying to other mainstream coins. This wave starts with SOL, and other mainstream coins will soon follow.
As soon as the news broke, they engaged Cantor Fitzgerald as the lead bank, planning to acquire a listed company and transform it into a SOL treasury. The Solana Foundation has endorsed this, which is definitely a vote of confidence from major institutions in the SOL ecosystem, expected to be finalized by early September.
Think about it, pouring in 1 billion dollars will improve SOL's liquidity, and ecosystem projects like Jito, Jupiter, etc., will also benefit, with funds spilling over into public chains and DeFi.
In summary, this wave of institutional entry is backed by real money. As the leading public chain, SOL has significant potential, but the cryptocurrency market is highly volatile, so everyone should keep an eye on it and stay informed.
Do you think SOL can rise further?
