Solana (SOL) continues to command market consideration after Galaxy Digital bought $300 million value of SOL in 13 transactions throughout Binance, Coinbase, and Bybit. The digital property funding agency has now acquired over 6.5 million SOL previously 5 days, value roughly $1.57 billion, in keeping with on-chain information.
These purchases come as a part of a broader Solana-focused technique. Galaxy, alongside Bounce Crypto and Multicoin Capital, lately led a $1.65 billion personal placement for Ahead Industries.
The transfer locations Ahead Industries as a key institutional actor within the ecosystem, with Galaxy transferring massive batches of SOL into custody wallets on Fireblocks, signaling long-term holding intent.
Novogratz: “Season of Solana” Begins
Galaxy Digital CEO Mike Novogratz has described the present market section because the “season of Solana.” He emphasised that quicker and cheaper blockchains like Solana are actually primed for Wall Road adoption, particularly as U.S. regulators trace at modernizing crypto guidelines.
SEC Chair Paul Atkins lately famous that the majority crypto tokens could fall exterior securities legislation, a stance Novogratz referred to as a “radical departure” from previous approaches.
He believes this readability will speed up institutional adoption, particularly for networks like Solana, which provide excessive throughput and sub-cent transaction prices with out counting on Layer 2 scaling options.
Analysts Eye $300 as Subsequent Solana Goal
With SOL buying and selling round $233.15, the token has climbed 12% previously week and over 23% previously month. Analysts recommend {that a} breakout above $253 might pave the way in which towards $272–$300, ranges final seen in late 2023.
SOL’s value traits to the upside on the every day chart. Supply: SOLUSD on Tradingview
Matt Hougan, CIO at Bitwise, famous that spot Solana ETFs awaiting SEC approval might unleash additional inflows by October. He in contrast the momentum to Bitcoin’s treasury-driven rallies, saying Solana’s distinctive mix of velocity, scalability, and institutional curiosity might amplify its value trajectory.
For now, Solana sits simply 16% under its all-time excessive, with bullish technical indicators supporting the case for an additional leg upward. If Galaxy’s shopping for spree continues and regulatory readability arrives, September might introduce one other Solana rally.
Cowl picture from ChatGPT, SOLUSD chart from Tradingview
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