Solana News Today: Top Crypto Firms Raise $1 Billion for Largest Solana Treasury

Leading cryptocurrency firms Galaxy Digital, Jump Crypto, and Multicoin Capital are reportedly preparing to raise $1 billion to establish what would be the largest corporate Solana treasury to date [1][2]. This move signals a dramatic increase in institutional confidence in the Solana network and mirrors a strategy previously seen in Bitcoin and Ethereum treasuries [3]. The initiative could reshape Solana’s position in the institutional crypto landscape and impact its liquidity and price dynamics [4].

According to reports, the firms plan to acquire a publicly traded company through which they will hold and manage Solana tokens [5]. Cantor Fitzgerald has been identified as the lead banker for the transaction, and the Solana Foundation is supporting the deal [6]. If finalized in early September as expected, this will significantly outpace other Solana treasury efforts, such as Mercurity’s $200 million and Classover’s $550 million Solana accumulation strategies [7].

The proposed Solana treasury, which would be over twice the size of the current largest institutional Solana holdings, could influence the network’s governance, liquidity, and ecosystem development [8]. Analysts suggest that large-scale treasury purchases, when structured as they are in Bitcoin and Ethereum, often tighten supply and enhance institutional confidence [9]. For Solana, which has experienced significant price appreciation—rising over 6.6% in the past 30 days—this initiative could further accelerate its adoption and market recognition [10].

Solana’s broader ecosystem has also shown strong performance. Decentralized applications on the network generated over $27 million in revenue during the week of August 18–24, with platforms like Axiom and Pumpdotfun leading the way [11]. Moreover, weekly token buybacks on Solana protocols surged by 158% over a two-week period, reaching $46.8 million [12]. These developments indicate robust activity and growing institutional interest in the ecosystem.

Currently, nine entities hold a combined 6.05 million Solana tokens, representing 1.05% of the circulating supply [13]. The top five holders, including Upexi Inc. and DeFi Development Corp, control nearly 97.5% of the tracked reserves [14]. The proposed $1 billion Solana treasury would represent a significant portion of the token’s liquid supply and could influence price volatility and staking yields [15].

Galaxy Digital has already executed a $620 million purchase of Solana tokens from the FTX estate, while Jump and Multicoin have maintained deep ties with Solana projects for some time [16]. If the $1 billion Solana treasury initiative is successfully completed, it could position Solana as a top-tier institutional asset alongside Bitcoin and Ethereum, further solidifying its role in the broader financial ecosystem.

Source:

[1] Bitcoinist.com

https://bitcoinist.com/galaxy-jump-multicoin-eye-solana-treasury-1-billion/

[2] CCN.com

https://www.ccn.com/news/stock-market-news/galaxy-jump-multicoin-1b-solana-treasury/

[3] Blockonomi

https://blockonomi.com/galaxy-jump-and-multicoin-eye-1-billion-solana-treasury-push/

[4] MSN

https://www.msn.com/en-us/money/other/galaxy-digital-multicoin-jump-crypto-reportedly-eye-1b-solana-fund/ar-AA1Laalu

[5] AInvest

https://www.ainvest.com/news/solana-news-today-galaxy-jump-build-1-billion-solana-treasury-cantor-fitzgerald-2508/

[6] CoinGape

https://coingape.com/just-in-galaxy-digital-jump-and-multicoin-target-1b-raise-to-build-solana-treasury/

[7] Investing.com UK

https://uk.investing.com/news/stock-market-news/galaxy-digital-stock-falls-amid-plans-for-1b-solana-treasury-fund-93CH-4236117

[8] CoinMarketCal

https://coinmarketcal.com/tr/news/wall-street-giants-plot-1-billion-solana-treasury-set-to-close-in-weeks-shaking-market

[9] CoinCentral

https://coincentral.com/galaxy-digital-leads-1b-solana-treasury-push-to-reshape-crypto-markets/

[10] SolanaFloor

https://twitter.com/SolanaFloor/status/171****232975215616

[11] SolanaFloor

https://twitter.com/SolanaFloor/status/171****202161940923

[12] Cryptonews

https://cryptonews.com/news/galaxy-jump-multicoin-eye-1b-solana-grab-is-a-sol-supply-squeeze-coming/

[13] Twitter (SolanaFloor)

[14] Cryptonews

[15] CoinMarketCal

[16] Blockonomi