Galaxy Digital’s $1B Bet on Solana Sparks Market Buzz
Galaxy Digital is buying over $1B in Solana for Multicoin's DAT. $326M already purchased, with $1B still in cash and stables.
- Galaxy Digital purchased $326M in Solana for Multicoin’s DAT
- The firm plans to buy over $1 billion in total
- $1.3B in cash and stablecoins still available for Solana buys
Galaxy Digital is making waves in the crypto market with its massive investment in Solana (SOL). The firm has already purchased $326 million worth of SOL tokens as part of a broader strategy to accumulate over $1 billion in Solana on behalf of Multicoin Capital’s new Solana DAT (Designated Activity Trust).
This deal is part of Galaxy’s partnership with Forward Industries, where it acts as the liquidity provider for the Solana DAT, a fund structure aimed at giving institutional investors exposure to SOL.
$1.3 Billion Still Left to Deploy
The initial $326 million purchase is just the beginning. According to reports, Galaxy still holds $1.3 billion in available funds — with $354 million in stablecoins and up to $1 billion in cash. These funds are earmarked for future SOL acquisitions, making this one of the largest institutional plays in the Solana ecosystem to date.
The move has sparked increased interest in Solana from both retail and institutional investors. With Galaxy acting as a major backer and market maker, this could further solidify Solana’s position as a top blockchain network.
What This Means for Solana and the Crypto Market
This investment signals growing confidence in Solana’s long-term potential. Galaxy’s deep-pocketed commitment could help support Solana’s price stability, attract new capital to the ecosystem, and potentially inspire similar investments in other altcoins.
As Solana continues to gain traction through DeFi, NFTs, and growing developer activity, Galaxy Digital’s billion-dollar bet may mark a turning point for institutional involvement in the space.
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