$SOL Surges as Galaxy Scoops Up Over $700M Tokens From Exchanges
The maneuver could be linked to digital asset treasury firm Forward Industries, which raised $1.65 billion to accumulate $SOL with Galaxy's backing.
$SOL recorded a sharp rally this week after blockchain data revealed that Galaxy Digital acquired more than $700 million worth of SOL tokens directly from centralized exchanges. The aggressive accumulation sparked strong bullish sentiment, sending Solana’s price higher and fueling speculation about the strategic intent behind the move.
Market watchers suggest the purchases may be tied to Forward Industries, a recently launched digital asset treasury management firm. Forward raised $1.65 billion in capital, reportedly with Galaxy’s support, to accumulate Solana at scale and provide structured products around the ecosystem.
The sizable inflows underscore growing institutional conviction in Solana’s role as one of the leading high-throughput blockchains, widely recognized for its fast transaction speeds, low costs, and expanding DeFi and NFT activity.
The coordinated buildup could signal a broader push to establish Solana as a core institutional asset, similar to Bitcoin and Ethereum, while positioning Galaxy and its partners at the center of this liquidity base.
For traders, the move highlights the increasing importance of on-chain tracking to spot whale activity and institutional flows. With billions now backing Solana accumulation, investors are eyeing whether this trend could set the stage for sustained upside momentum.
