Summary
- Galaxy Digital is reported to have made large-scale purchases of Solana worth about KRW 675 billion over the past 24 hours.
- Thanks to such institutional buying, Solana's price rose about 13% week-on-week on Binance, breaking above $230.
- Galaxy Digital is also reported to have succeeded in raising $1.65 billion in funding to build Solana reserves.
Galaxy Digital has launched a large-scale purchase of Solana (SOL).
According to data from Lookonchain on the 11th (local time), Galaxy Digital added 706,790 SOL, with the purchase amount reaching about $160 million (about KRW 213 billion). As a result, the total amount of Solana Galaxy Digital bought in the past 24 hours was 2,159,182 tokens. In terms of value, it amounts to about $486 million (about KRW 675 billion).
The market is also gaining momentum. Solana surged about 13% week-on-week on Binance, breaking above $230. Analysts say that large-scale institutional buying is supporting the price increase.
Mike Novogratz, CEO of Galaxy Digital, earlier expressed optimism in an interview with CNBC, saying "the crypto market has entered 'the season of Solana'." Additionally, Galaxy Digital succeeded in raising $1.65 billion in funding to build Solana reserves together with Forward Industry and others.
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀
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