Solana News Today: Galaxy and Jump Build $1 Billion Solana Treasury With Cantor Fitzgerald

Leading digital asset firms Galaxy Digital, Jump Crypto, and Multicoin Capital are in advanced talks to establish a $1 billion treasury focused on Solana’s native token, SOL, with Cantor Fitzgerald serving as lead banker [1]. The initiative involves acquiring a publicly traded company and converting it into a corporate treasury to hold significant volumes of SOL—potentially the largest such reserve in the blockchain’s history [1]. The Solana Foundation is reported to have supported the project, recognizing its strategic value for the ecosystem [1]. If the deal proceeds, it could close as early as September, according to sources familiar with the matter [1].

The proposed $1 billion Solana treasury would far exceed existing large-scale holdings, such as Upexi’s 2 million SOL valued at $400 million and DeFi Development Corp’s 1.29 million SOL [1]. The effort underscores a broader trend of institutional investors shifting attention from Bitcoin and Ethereum to high-performance blockchains like Solana [1]. The use of corporate finance mechanisms—such as acquisitions and structured investment vehicles—highlights the growing maturity of digital asset management strategies [1].

The creation of a major Solana treasury could enhance the network’s institutional credibility, stabilize liquidity, and attract further capital from institutional investors [1]. It also aligns with Solana’s growing footprint in payments, decentralized finance (DeFi), NFTs, and tokenized assets [1]. Other firms have also pursued similar strategies, with Bit Mining reportedly considering raising up to $300 million to build its own Solana reserve [1].

Meanwhile, on-chain activity on Solana has increased. Over the past week, Solana-based decentralized applications (DApps) generated over $27 million in fees, with Axiom Exchange and Pumpdotfun among the top contributors [1]. The launchpad Pumpdotfun alone accounted for nearly 90% of new token revenue on the network [1]. Additionally, the creation of nearly 300,000 new tokens—mostly memecoins—has further driven fee generation and network usage [1].

Technically, Solana has shown signs of bullish momentum. The token recently traded at $198, having risen by more than 9.6% in the past week [1]. Analysts have identified $211 as a key resistance level, with a potential upside target at $222 if the price breaks through [1]. However, despite its dollar-based performance, Solana remains relatively weaker than top-tier assets like Ethereum and Bitcoin [1]. The SOL/ETH and SOL/BTC pairs continue to trade below or near long-standing resistance levels [1].

The push to build a $1 billion Solana reserve reflects growing confidence in the network’s long-term potential, particularly with ongoing development in DeFi and tokenized assets. For example, Circle has minted $25 billion in USDC on the Solana blockchain, reinforcing its role in the ecosystem [1]. While altcoins like Solana are still trailing behind Bitcoin and Ethereum in terms of market dominance, the increasing institutional interest in the platform suggests a path toward broader adoption [1].

Source:

[1] Solana Price Eyes $222 as Galaxy, Jump Build $1B Treasury (https://www.coingabbar.com/en/price-prediction/solana-222-galaxy-jump-1b-treasury?srsltid=AfmBOoqIGmNU2cAIHMGmDgP762wKOKBkspwdBsngvKthYGmSZHz-IbSD)