“The Maneuver Could Be Linked to Digital Asset Treasury Firm Forward Industries, WHICH RAISED $ 1.65 Billion to Accuumulate Sol with With Galaxy’s Backing.”, – WRITE: www.coindesk.com
The token Rallied 5% Over The Past 24 Hours to Just SHY OF $ 240. It Has Extended Weekly Gains to 18% and Vastly OutperFormed Bitcoin BTC$ 108.783.53 and Eth (ETH), whoch Advanced Just 4% -5% Over The Same Period.
The Gains Occurred As Digital Asset Manager Galaxy Digital Withdrew Some 3.1 Million in Sol Tokens from Exchanges, Predominantly from Binance and Coinbase, Thughh The Last Tword Blockchain Data by Arkham Intelligence Showed.
Galaxy withdrawing Sol from Exchange (Arkham Intelligence)
The transactions may have to do with forward Industries (Ford), The Digital Asset Strategy Company A $ 1.65 Billion Cash Pile to Build a Solana Treasury. Galaxy Was A Lead Investor in the Fundraising Round, While Its Asset Management Division Was Tasked to “Actively Manage” Forward’s War Chest, Accounting To A Press Release.
Solana SeasonSolana’s OutperForgance Could Continue, Bitwise Cio Matt Hougan Forecasted Earlier this Week, as Incoming Demand from Treasury Companies and Spot ETFTS. ITS SMALLER MARKET CAPITALIZATION Compared to Bitcoin BTC$ 108.783.53 and Eth (ETH).
Mike Novogratyz, CEO OF GALAXY, Echoed that View in a Thursday Cnbc Interview, Saying That Market Could Be Entering the “Season Of Sol.” He Pointed to Crypto Investment Firm Pantera’s Upcoming Solana Treasury Company and the Potential Approval of Sol etfs, Bringing in Fresh Money for the Crypto.
His Firm Also Chose The Solana Blockchain to Tokenize Its Stock with Superstate Earlier this month.
Read More: ‘The Ingredients Are All There’: Solana May Be Set to Soar, Says BitWise
That would be a massive jump as the Betting Platform Raised Funds at Just A $ 1 Billion Valuation Just Back in June.
- Polymarket Considered A $ 9 Billion Valination in A Potential Deal, Sources Told The Information.
- The CFTC Recently Cleared Polymarket to Operate in the US After A Prior Ban.
- Rival Kalshi’s Valuation Has Also Grown to $ 5 Billion, Accounting To Report, Highlighting Momentum in Predict Markets.
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