Solana

Multicoin

Galaxy

Impact

Million

Digital assets investment firm Galaxy Digital has dramatically expanded its Solana holdings, purchasing 1.2 million SOL worth $306 million in a single day, <a href="https://x.com/lookonchain/status/1967388275708219682" rel="noopener noreferrer nofollow">according</a> to blockchain analytics platform Lookonchain.&nbsp;
The tokens were bought across several exchanges on Sunday and transferred to crypto custody provider Fireblocks for safekeeping.
<h2 id="span-style-font-weight-400-galaxy-leads-aggressive-solana-accumulation-span">Galaxy Leads Aggressive Solana Accumulation</h2>
This latest purchase is part of a broader acquisition streak that began Wednesday. Over the past five days, <a href="https://thecoinrise.com/galaxy-digital-leads-another-486m-solana-buying-spree/" rel="noopener noreferrer nofollow">Galaxy has scooped up a total of 6.5 million SOL</a>—valued at about $1.55 billion—buying tens to hundreds of thousands of tokens at a time.
The buying spree coincides with Galaxy’s new partnership with investment firm Multicoin Capital and trading powerhouse Jump Crypto to form a so-called crypto treasury company. Last week, the trio <a href="https://www.galaxy.com/newsroom/why-galaxy-is-sponsoring-a-solana-dat" rel="noopener noreferrer nofollow">joined</a> a $1.65 billion private placement round in Forward Industries, a medical device company that recently shifted its strategy to amass one of the largest Solana treasuries among public firms.&nbsp;
Galaxy has not clarified whether its Solana purchases are directly linked to Forward Industries’ pivot.
<h2 id="span-style-font-weight-400-solana-adoption-and-market-impact-span">Solana Adoption and Market Impact</h2>
Forward Industries’ stock has surged on news of its Solana-focused strategy. The shares are up 16% over the last five trading days and have gained an eye-catching 620% year-to-date, closing Friday at $36.10. This rally comes despite the company reporting a 50% year-over-year revenue decline and a net profit margin drop of more than 300% in its latest quarter.
The broader Solana ecosystem is also showing impressive momentum. Galaxy Digital itself became the first Nasdaq-listed company to be tokenized on the Solana blockchain earlier this month, highlighting the network’s growing appeal to institutional players.&nbsp;
Separately,<a href="https://thecoinrise.com/defi-development-corp-enters-uk-with-solana-treasury-move/" rel="noopener noreferrer nofollow"> DeFi Development Corp announced</a> that its own Solana treasury surpassed 2 million SOL after an $117 million buying spree over eight days.
Industry observers estimate that Solana-focused treasury companies have collectively raised between $3 billion and $4 billion, underscoring accelerating institutional adoption. Total value locked on Solana-based DeFi projects has climbed to a record $12 billion, second only to Ethereum, according to on-chain data.
With corporate treasuries showing growing interest, Solana’s role as a leading blockchain for decentralized finance and tokenization appears stronger than ever.
The post <a href="https://thecoinrise.com/galaxy-digital-buys-306-million-in-solana-in-a-single-day/" rel="noopener noreferrer nofollow">Galaxy Digital Buys $306 Million in Solana in a Single Day</a> appeared first on <a href="https://thecoinrise.com/" rel="noopener noreferrer nofollow">TheCoinrise.com</a>.

Galaxy Digital Buys $306 Million in Solana in a Single Day

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