Galaxy Digital has bought $306 million worth of Solana (SOL) in a single day, according to blockchain data. The firm picked up 1.2 million SOL tokens on Sunday from several exchanges and transferred them to crypto custody provider Fireblocks, as reported by Lookonchain.
This marks part of an aggressive Solana buying spree by the investment firm. Since last Wednesday, Galaxy has spent more than $1.5 billion on the token.
Galaxy Digital Partnership with Multicoin and Jump Crypto
Galaxy’s Solana purchases come shortly after the company revealed a partnership with Multicoin Capital and Jump Crypto. Together, the firms are backing a $1.65 billion private placement round in Forward Industries.
Forward Industries, once a medical device company, has shifted focus to digital assets. It now aims to hold the largest amount of Solana among public companies, joining a growing trend of businesses transforming into “crypto treasury companies.”
Over $1.5 Billion in Solana Acquired
Lookonchain data shows Galaxy has bought around 6.5 million SOL in the past five days, worth about $1.55 billion. The firm’s purchases have been happening quickly, with on-chain records showing tens to hundreds of thousands of tokens being bought at once.
It remains uncertain whether Galaxy’s Solana buying is directly connected to its investment in Forward Industries. Galaxy Digital has not commented on whether the two moves are related.
