Galaxy’s Solana Spree: $1.2B Buy, $246 Price, and No Clue

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Galaxy Digital has accelerated its bet on Solana, purchasing more than $1.2 billion worth of SOL in less than a week. 🤯

On September 13, blockchain analytics platform Lookonchain, the financial equivalent of a nosy neighbor, reported that Galaxy had acquired nearly 5 million SOL-valued at about $1.16 billion-within three days. Of that amount, roughly 4.7 million SOL was transferred to Coinbase Prime for custody. 🧠

Solana Surges 21% After Galaxy Digital Acquires 5.3 Million Tokens in a Week

A day later, the firm added another 325,000 SOL, worth $78 million, bringing its total purchases close to 5.3 million tokens. Because nothing says “I trust this project” like buying 5 million tokens and then immediately moving them to a custodian. 🤷‍♂️

Galaxy Digital bought another 325,000 $SOL($78M) in the past 5 hours.

– Lookonchain (@lookonchain) September 14, 2025

Arkham Intelligence, the crypto version of a gossip columnist, reports that after these transfers, Galaxy retained only around 225,000 SOL-worth just over $55 million-in its wallet. Because who needs liquidity when you can hoard tokens like a squirrel with a cryptocurrency addiction? 🐿️

This shows that the SOL buying spree is aimed at long-term storage and strategy execution through Coinbase’s infrastructure rather than short-term trading. Or, as I like to call it, “investing in a future where everyone has a Solana wallet and a therapist.” 💆‍♂️

Meanwhile, the buying activity aligns with Galaxy’s leadership role in a $1.65 billion investment round for Forward Industries, alongside Jump Crypto and Multicoin Capital. Forward is positioning itself as a specialized Solana treasury vehicle with ambitions to dominate the space. Because nothing says “trust us” like a $1.65 billion bet on a blockchain that’s still figuring out how to handle 10,000 transactions per second. 🚀

Notably, industry speculation suggested Forward might be a vehicle for insiders to offload locked Solana tokens. However, Galaxy and Multicoin’s executives have dismissed those concerns. Because who wouldn’t want to be accused of market manipulation? 🤡

Multicoin’s Kyle Samani stated that none of its affiliates would sell locked tokens to the treasury firm. “I can represent with 100% certainty that Forward will not buy any locked SOL from any Multicoin-affiliated entity or person,” Samani said. Because nothing says “transparency” like a 100% certainty that no one will ever sell anything. 🤞

“I can represent with 100% certainty that Forward will not buy any locked SOL from any Multicoin-affiliated entity or person,” Samani said.

Instead, Forward’s backers have framed the initiative as a deliberate push to scale Solana’s role in capital markets. Because nothing says “we’re serious” like throwing a billion dollars at a blockchain that’s still learning to walk. 🦾

For context, Galaxy emphasized that its approach is not passive accumulation but an “active alpha generation” strategy. Because passive accumulation is for people who don’t have a 100% confidence in their crypto picks. 🎯

The firm expects Forward to leverage its and Jump’s high-performance infrastructure to stake SOL and lend into decentralized finance markets. It also plans to deploy capital across Solana-native strategies designed to accelerate per-share growth. Because who doesn’t want to see their tokens grow at the speed of light? ⚡

Due to this strong conviction, SOL’s price has outperformed the general market over the past week. Because apparently, the crypto world is a place where everyone’s a genius and no one’s ever wrong. 🤯

According to BeInCrypto data, the token’s value has risen by more than 21% in the last seven days. This uptrend helped push it to an eight-month high of $246. Because nothing says “I’m a success” like a token that’s 21% higher than it was last week. 📈

Moreover, the price uptrend coincided with the digital asset’s perpetual open interest climbing above $7 billion for the first time, according to Glassnode data. This suggests that more crypto traders are speculating on SOL’s price momentum in the current market situation. Because nothing says “I’m a professional” like betting on a token that’s basically a rollercoaster. 🎢

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2025-09-14 13:35