$1.2 billion move on Solana: "Solana season has begun"

The investment firm Galaxy Digital, operating in the Crypto sector, has bought approximately 5 million SOL in the last three days. The amount purchased is equivalent to 1.2 billion dollars at current prices. The company began making significant investments in SOL in recent months, having sold 100 million dollars worth of ETH to buy SOL during that period.

On the other hand, it was announced that Forward Industries, a company traded on Nasdaq, would be transformed into a Solana treasury company, similar to what Strategy did with Bitcoin. An investment of 1.65 billion dollars had been secured for this company. Behind the company are giants of the crypto world, including Jump Crypto and Multicoin Capital, as well as Galaxy Digital. It is still unknown whether the purchases made by Galaxy Digital in the last few days are related to Forward Industries.

Galaxy Digital has made significant investments in Solana while its CEO, Michael Novogratz, claimed that “the Solana season has begun.” Speaking to CNBC, Novogratz asserted that both market momentum and legal developments are in favor of Solana. The CEO of Galaxy Digital pointed out the recent statements of Paul Atkins, the Chairman of the U.S. Securities and Exchange Commission (SEC). Atkins had stated that they want to enable entrepreneurs and investors to raise capital on blockchains without facing obstacles. Previously, he had mentioned that the vast majority of cryptocurrencies do not qualify as securities. Novogratz expressed that Solana is tailor-made for financial markets due to its speed and high transaction capacity.

Published: September 13, 2025 15:09Last Update: September 13, 2025 15:18