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Forward Industries Establishes $1.65B Solana Treasury as Institutional Interest Surges

Forward Industries Establishes $1.65B Solana Treasury as Institutional Interest Surges

Galaxy Digital’s substantial Solana acquisitions, backed by a $1.65B treasury plan, reflect a growing trend of institutional adoption, pushing the SOL market further.

SOL

Fact Check
The statement is fully substantiated by the provided evidence. Multiple sources, including a primary source press release from Forward Industries on Businesswire (Source 10), directly confirm the company raised $1.65 billion to initiate a Solana treasury strategy. Numerous other articles from reputable financial and crypto news outlets (Sources 1, 2, 3, 4, 13) corroborate the context of a significant and well-documented surge in institutional interest in the Solana ecosystem, using terms like 'record levels' and 'surged'.
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Summary

Galaxy Digital has made a massive $486 million purchase of Solana (SOL), acquiring 2.2 million SOL tokens. This purchase is part of its broader strategy to fund a Solana treasury through Forward Industries, which raised $1.65 billion. Institutional interest in Solana is expanding, with entities holding over 10 million SOL tokens worth $2.44 billion. This surge in institutional accumulation has pushed Solana’s price up by 16.13% over the past week, reinforcing institutional confidence in the asset.

Terms & Concepts
  • Solana Treasury: A treasury strategy where companies acquire and hold Solana tokens as a strategic reserve, often used by institutional investors to gain exposure to the blockchain's growth.
  • SOL: The native cryptocurrency of the Solana blockchain, used for transaction fees, staking, and as a store of value in institutional and retail portfolios.
  • TVL (Total Value Locked): The total value of crypto assets deposited in a blockchain’s DeFi protocols, used as a measure of ecosystem activity and adoption.