Galaxy Digital Increases Solana Holdings Amid FTX Estate Unstaking
- Galaxy Digital acquired an additional 706,790 SOL, valued at approximately $160 million.
- In total, Galaxy Digital purchased over 2.15 million SOL in a single day, worth around $486 million.
- The firm is facilitating a $1.65 billion private placement for Forward Industries to establish a dedicated Solana treasury.
- FTX Estate unstaked roughly 192,000 SOL, valued at about $44.9 million, as part of its liquidation process.
- Since November, the FTX Estate has redeemed nearly nine million SOL worth approximately $1.21 billion.
- SOL is currently trading at $239, reflecting a weekly increase of about 15.83%.
Galaxy Digital’s substantial purchases signal growing institutional confidence in Solana, particularly as it prepares to play a significant role in the altcoin ecosystem through its treasury initiative with Forward Industries.
The recent activity highlights the increasing institutional interest in Solana, especially given that Galaxy Digital alone has invested nearly half a billion dollars in just one day of trading.(Source)
