Galaxy Digital, Multicoin Capital, and Jump Crypto, three of the biggest names in cryptocurrency, are teaming up to raise $1 billion to make the biggest Solana (SOL) treasury ever. The Solana Foundation backs the consortium, which is led by Cantor Fitzgerald as the main banker. The goal is to strengthen Solana’s presence in institutions and speed up its growth as the sixth-largest token by market capitalization.
Making the biggest Solana treasury
Bloomberg’s unnamed sources say that the plan will involve taking over a publicly traded company to create a digital asset treasury that will focus on gathering SOL. Solana is currently trading near $200 and has risen 6.6% in the last month. This shows that it is still strong and growing after the FTX collapse in the crypto sector. The planned reserve would be much bigger than the current corporate SOL stashes, which would give the market a lot of liquidity and support.
Upexi, a company that manages supply chains, has more than 2 million SOL, worth about $400 million. This makes it the current leader in Solana treasury volume. The DeFi Development Corporation just grew to 1.29 million SOL (about $240 million). Bit Mining, a company that mines Bitcoin, is changing its focus and plans to create a Solana token reserve worth $200 to $300 million. The $1 billion treasury from Galaxy Digital, Multicoin, and Jump Crypto would more than double these amounts, making it the largest institutional investment in Solana to date.
Institutional Adoption and Ecosystem Recovery
This ambitious reserve effort is seen as a key part of Solana’s recovery after FTX. It raises the network’s profile among institutional investors and gives the ecosystem more momentum. Staking yields and corporate treasury participation are also giving stakeholders new value. More brands are using SOL not only to make money but also to get discounted locked tokens and get involved in the ecosystem.
Galaxy Digital, Multicoin Capital, and Jump Crypto are leading the way in the $1 billion Solana treasury. This is the largest coordinated fund in Solana’s history and shows that institutions are becoming more confident in the token’s long-term prospects. As more companies do the same, Solana may become even more stable, liquid, and popular in the larger digital asset market.
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