March 16, 2025
11 11 11 AM
Latest Post
21Shares to Liquidate Two Bitcoin and Ether Futures ETFs Amid Market Downturn Coinbase Stock Decline Can’t Stop Highly Leveraged Long ETF Rollouts Gold ETFs Inflow Takes Over Bitcoin ETFs Amid Historic Rally TON Surges 20% as Telegram Founder Pavel Durov Recovers Passport From French Authorities SEC Commissioner Hester Peirce on the New Crypto Task Force SOL, XRP Zoom 5% Higher as Bitcoin Grapples With $84K Level New Canadian P.M. Carney Closes Gap on Polymarket with BTC-Friendly Poilievre Cardano: Deep Dive on the Trump Reserve Token Whose Blockchain Ignores TVL Court Approves 3AC’s $1.53B Claim Against FTX, Setting Up Major Creditor Battle Weekly Recap: Regulatory Wins, Market Doldrums

Sol Strategies Bolsters Solana Holdings to Near 190,000 SOL Worth More Than $40M

Solana-focused Canadian investment company Sol Strategies purchased 40,300 SOL between Jan. 19 and Jan. 31, for approximately $9.9 million at an average price of $246.53 per token.

The Toronto-based company, which runs three mainnet Solana validators, said that it now holds 189,968 SOL worth roughly $40.89 million purchased at an average price of C$256.21 per SOL, or around US$178.39 per token, according to a press release.

Last month the firm, which has submitted an application to list on the Nasdaq, sold $2.5 million of convertible debentures to add an additional 6,564.57 SOL at an average price of $265.65 per token. Solana price, at the time of writing, was trading at $215 after losing more than 8.5% of its value over the past week amid a wider cryptocurrency market downturn.

Sol Strategies, formerly known as Cypherpunk Holdings, is led by former Valkyrie Investments co-founder Leah Wald. It has acquired validators not only on Solana but also on Sui (SUI), Monad (MONAD), and ARCH (ARCH). Validators process transactions to help secure Proof-of-Stake blockchains by staking certain amounts of these networks’ cryptocurrencies.

According to its website, Sol Strategies also holds 3.168 BTC worth $315,800 at the time of writing as it shifted its investment strategy from accumulating BTC to SOL.

Read more: ‘It’s So Early’: How Solana Is Competing With Ethereum for Institutional Interest

This post was originally published on this site