Recently, Galaxy Digital acquired approximately $300 million worth of Solana 
$86 (SOL) through central exchanges, as verified by blockchain data. According to data from Arkham Intelligence, the company purchased a total of 1.24 million SOL tokens via the Binance, Coinbase, and Bybit exchanges.
Galaxy Digital’s Recent Solana Purchases
Blockchain analysis platform Lookonchain reported that Galaxy Digital acquired 6.5 million SOL tokens over the past five days. At the current market value, these tokens are equivalent to around $1.57 billion. Arkham Intelligence data also indicates that a portion of these acquired assets have been transferred to institutional custody wallets on Fireblocks for safekeeping.
Galaxy Digital’s recent Solana purchases were facilitated through massive acquisitions on central exchanges, followed by the secure transfer of these assets to trusted wallets. In the last 24 hours, the company has executed 13 transactions to buy 1.24 million SOL, utilizing platforms like Binance, Coinbase, and Bybit in the process. This has elevated Galaxy Digital’s total investment in Solana to approximately $134.13 million.
Connection With Forward Industries
Last week, Galaxy Digital, along with Jump Crypto and Multicoin Capital, participated in a private funding round for Forward Industries, a company listed on the Nasdaq. Collectively, these three companies contributed over $300 million towards the total funding amount of $1.65 billion.
The purpose of this funding is to bolster Forward Industries’ strategy centered around their Solana treasury. Although Lookonchain has linked Galaxy Digital’s recent Solana acquisitions to this initiative, the precise nature of this connection remains unconfirmed. An official statement from Galaxy Digital is anticipated to clarify this matter.
According to CryptoAppsy, as of the preparation of this report, the price of SOL has dropped by 1.77% to trade at $242.30 within the last 24 hours. The popular altcoin‘s transaction volume began the new week with a 2.48% decrease, totaling $8.12 billion. The dip in volume is attributed to the weekend effect.
