Solana News Today: Galaxy Jump Multicoin Plan $1B Solana Treasury to Boost Institutional Adoption

Leading cryptocurrency investment firms Galaxy Digital, Jump Crypto, and Multicoin Capital are in advanced discussions to establish a $1 billion digital asset treasury focused exclusively on Solana’s native token, SOL [1]. The initiative involves acquiring a publicly traded company and converting it into a treasury vehicle designed to hold large quantities of SOL, marking what could be the largest corporate holding of the altcoin to date [1]. The Solana Foundation has reportedly lent its support to the project, emphasizing its strategic importance for the network’s future [1]. If finalized, the deal could close as early as September, reflecting the urgency and momentum behind the effort [1].

This move is part of a broader shift in institutional crypto strategy, with major investors increasingly looking to diversify beyond Bitcoin and Ethereum. The proposed Solana treasury is expected to significantly outpace existing large-scale holdings, including Upexi’s 2 million SOL ($400 million) and DeFi Development Corp’s 1.29 million SOL [1]. The initiative also highlights the innovative use of corporate finance tools, such as acquisitions and structured investments, to build substantial digital asset positions [1]. Cantor Fitzgerald is reported to be the lead banker facilitating the transaction [1].

The potential creation of a $1 billion Solana treasury could have far-reaching implications for the network. By centralizing large SOL holdings into a corporate-style reserve, the initiative may enhance Solana’s institutional legitimacy, stabilize liquidity, and attract further institutional investment [1]. Additionally, it could reinforce Solana’s position as a leading blockchain platform for payments, decentralized finance (DeFi), NFTs, and tokenized assets [1]. Bit Mining is reportedly considering raising up to $300 million in its own SOL holdings, signaling continued corporate interest in the blockchain [1].

On-chain activity and DeFi engagement have also been on the rise. In the past seven days, Solana-based decentralized applications (DApps) have generated over $27 million in fees, with Axiom Exchange and Pumpdotfun being key contributors [1]. The launchpad Pumpdotfun alone accounts for nearly 90% of all new token revenue on the network [1]. Additionally, the creation of nearly 300,000 new tokens—mostly memecoins—has further driven fee-based revenue and network activity [1].

Technically, Solana has shown signs of bullish momentum. The token recently traded at $198, having increased by over 9.6% in the past week [1]. Analysts have identified a key resistance level at $211, with a potential upside target of $222 if the price breaks through [1]. However, despite this dollar-based performance, Solana remains relatively weaker compared to top-tier assets like Ethereum and Bitcoin. For instance, the SOL/ETH pair is trading below its key resistance level, while the SOL/BTC pair remains near a long-standing ceiling that has been tested multiple times since 2021 [1].

The strategic move to build a $1 billion Solana reserve reflects growing confidence in the network’s long-term potential, particularly with the continued development of DeFi infrastructure. For example, Circle has minted $25 billion in USDC on the Solana blockchain, further solidifying its role in the ecosystem [1]. While altcoins may not yet match the dominance of Bitcoin and Ethereum, the increasing institutional interest in Solana suggests a path toward broader adoption and recognition.

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)