BNB Prices Rise Amid Growing Interest and Corporate Accumulation

BNB rose 1.4% in the past 24 hours, reaching $933.03, as investors increased exposure to the cryptocurrency market ahead of a potential shift in U.S. interest rates. Corporate treasuries hold around 828,900 BNB, worth $770 million, while several companies have pledged to accumulate the cryptocurrency. BNB is currently testing resistance at $930 and remains a leader among exchange tokens, representing 81% of the sector's total market capitalization.

A total of 16 Solana treasury firms hold roughly 11,739,000 SOL, valued at approximately $2.84 billion, according to on-chain data Solana treasuries claim 2% of SOL supply off the open market^[1]. This represents a significant increase in holdings and now accounts for 2% of the SOL supply. Companies like Sharps Technology, DeFi Development, and Upexi each hold over 2 million SOL, indicating a strong commitment to the cryptocurrency.

The rise in SOL holdings coincides with a positive market trend. At the time of publication, Solana is trading at around $243, nearing its all-time high of $293. In the past 24 hours, SOL has surged by 2.11%, and over the past 30 days, it has gained nearly 19% Solana treasuries claim 2% of SOL supply off the open market^[1]. This growth is driven by increasing institutional and corporate interest in the cryptocurrency.

BIT Mining Limited has announced plans to purchase an additional 17,221 SOL, bringing its total holdings to over 44,000 SOL, worth around $9.95 million Solana treasuries claim 2% of SOL supply off the open market^[1]. The company shifted its focus from legacy cryptocurrencies like Bitcoin and Ethereum Classic to Solana earlier this year. BIT Mining also plans to convert all its existing crypto holdings into SOL, with funds raised in phases depending on market conditions.

Galaxy Digital, Jump Crypto, and Multicoin Capital have revealed plans to raise about $1 billion for a new Solana-focused treasury vehicle, with Cantor Fitzgerald advising on the deal Solana treasuries claim 2% of SOL supply off the open market^[1]. This initiative aims to surpass the size of all existing treasuries, further indicating the growing interest in Solana.

DeFi Development has also increased its Solana holdings by purchasing an additional 191,141 SOL, spending roughly $39.76 million Solana treasuries claim 2% of SOL supply off the open market^[1]. Upexi, another significant holder, has emerged as one of the largest corporate holders with nearly 18,000 tokens. Upexi's holdings have grown to over 2 million SOL, valued at $447 million, reflecting unrealized gains of $142 million Solana treasuries claim 2% of SOL supply off the open market^[1].

Upexi's staking strategy has generated an annual yield of around 8%, with daily staking rewards reaching $105,000 at the time of publication Solana treasuries claim 2% of SOL supply off the open market^[1]. The company introduced an adjusted AOL per share metric to reflect the effect of capital issuance, staking income, and discounted locked SOL purchases. This metric has surged by 56% to 0.0197 ($4.37) Solana treasuries claim 2% of SOL supply off the open market^[1].

In summary, Solana treasury firms are accumulating significant amounts of SOL, indicating strong confidence in the cryptocurrency's potential. As market trends and institutional interest continue to favor Solana, the cryptocurrency's value is likely to remain stable and potentially grow further.