Hong Kong-listed ‘Memes Strategy’ surges 28% after announcing investment in Solana
Summary
- It was reported that Memes Strategy’s share price surged 28% after the company announced an investment in Solana (SOL).
- The company revealed plans to acquire Solana and further expand by participating in its proof-of-stake (PoS) structure to earn staking rewards.
- Following this news, its market capitalization rose to $83.1 million.
The tech investment firm Memes Strategy (2440.HK), listed on the Hong Kong Stock Exchange, saw its share price jump 28% after announcing an investment in Solana (SOL).
According to Cointelegraph on the 17th (local time), Memes Strategy announced the previous day that it would purchase 2,440 Solana through the OSL, a Hong Kong virtual asset (cryptocurrency) exchange. The company also stated that it would not only acquire Solana, but also participate in Solana’s proof-of-stake (PoS) structure to enhance network security and earn staking rewards.
Following the announcement, Google Finance data shows that Memes Strategy’s stock price jumped from $2.57 USD on the 16th to $2.7 on the 17th, a 28.5% surge. Its market capitalization rose to $83.1 million.
Heecheol Yang
heecheol@bloomingbit.ioHello, I'm a reporter at bloomingbit
![Bitcoin retakes KRW 100 million amid reports of secret US-Iran contacts…$72,000 in focus [Kang Min-seung’s Trade Now]](https://media.bloomingbit.io/PROD/news/3beef0db-a8f6-4977-9dca-6130bf788a69.webp?w=250)
![[Analysis] “ETFs and short covering drove Bitcoin’s rebound…on-chain indicators are mixed”](https://media.bloomingbit.io/PROD/news/6c7dbd31-4aeb-400e-9c43-c2843062fc66.webp?w=250)
