Haciyev Reşit 
As Solana Season narrative continues to gain momentum in the crypto markets, Galaxy Digital has made a massive move by purchasing approximately $530 million worth of Solana (SOL) within the last 24 hours. On-chain data shows the company acquired a total of 2.31 million SOL from Binance, Coinbase, and Bybit wallets.
According to blockchain analytics platform Arkham Intelligence, Galaxy Digital carried out large-scale purchases across these exchanges, significantly boosting its Solana holdings and reinforcing the broader institutional accumulation trend.
Forward Industries and Solana Treasury Strategy
This major move follows Galaxy’s recent private placement (PIPE) investment in Forward Industries. Alongside Jump Crypto and Multicoin Capital, Galaxy led the initiative with over $300 million invested.
Forward Industries announced that it will begin accumulating Solana with the raised funds. Following the news, the company’s Nasdaq-listed shares surged 135% within just five days.
The “Solana Season” Narrative Strengthens
Galaxy Digital CEO Mike Novogratz stated that the crypto market is gaining strong momentum, supported by regulatory developments, signaling the beginning of a “Solana Season.”
Similarly, Matt Hougan, CIO at Bitwise, highlighted the growing demand from institutions, fueled by discussions around spot Solana ETFs. He emphasized Solana’s advantages over Ethereum, particularly its faster transaction speeds and lower costs.
Solana Price Action
At the time of writing, Solana is trading at $238, marking a 6% increase in the last 24 hours.
With this surge, Solana’s market capitalization reached $126.4 billion, surpassing BNB and climbing to become the fifth-largest cryptocurrency in the world.