Galaxy Digital Solana Purchase Tops $486M, Price Rises Above $230

Impact of Galaxy Digital Solana Buy on Price, Stocks & Market Growth

Galaxy Digital Solana Purchase Crosses $486 Million

Galaxy Digital has made another massive move in SOL. According to blockchain tracker Lookonchain, the firm recently purchased 706,790 coins worth about $160 million. This brings its 24 hour total to 2,159,182 tokens which is valued roughly at $486 million. 

The transaction data shows that these tokens were transferred from major exchanges like Binance and Coinbase to firms' wallets.

Source: X

The buying spree coincides with SOL’s 13% weekly surge that is pushing its price above $230. Whereas, CEO Mike Novogratz called it the season of SOL backed by $1.65 billion in new funding for reserves. 

Galaxy Digital Solana Buying shows a Bullish Signal

The firm’s bold move showed a strong price surge of the token, as yesterday the coin was trading at around $222 and after the purchase it reached at around $235 and still maintaining the value around it. 

As per the data of Coingecko, now the Nasdaq listed firm has surpassed DeFi Development Corp whose total holding is 2,027,817 coins and became the biggest holdings. 

Source: Coingecko 

This might bring competition among other asset focused firms Upexi, Defi Development Corp, Sharps Technology, Sol strategies, Exodus Movement etc to buy more for maintaining their position. And this the asset market activity will show a bullish nature in the prices too. 

Impact of Galaxy Digital Solana Purchase on Stock market Shares

Galaxy Digital Solana purchase of 706,790 tokens has a clear positive impact on its stock. Shares closed at $28.87 , up with 10.70% with after hours trading pushing further to $29.51.

Source: Google

The surge reflects investors confidence as the firm’s $486M buy and $1.65B funding round strengthen market sentiment around both coin and firm's future growth. 

Why Solana Price Is Rising: Galaxy Digital and Others Drive Demand 

As per the data from CoinMarketCap, currently the coin is trading at $238.76 with a rise of 7% recorded in 24 hours. The total market cap at $129.48 billion and 34.34% rise in volume has been seen in a day. 

Source: CoinMarketCap

If you see the data of the last 7 days, you will come to know that the coin traded at its lowest dip of $200 in the week and now a total surge of $40, whereas the coin went at its all time high of $294 on January 19, 2025. 

The SOLs prices are rising today due to these factors: 

• SOL strategies became the first Solanaa focused company on Nasdaq under the ticker STKE on September 10, after acquiring $90M .This move helps legitimize Solanaa as an institutional asset. 

• The SEC is considering rules that could enable Solana ETFs with just 6 months of futures history. This reduces uncertainty and positions SOL as a key altcoin candidate.

• Galaxy Digital Solana purchased 706,790 tokens worth $160 millions. 

• Bullish RSI (66.14) and MACD signal

The graph is showing bullish behaviour. It might be possible that more investors start investing which possibly brings its prices to $250 in the month end. 

Conclusion 

The recent purchase of the firm has boosted market confidence, lifting both SOL prices and company shares. With rising institutional interest and supportive signals, assets outlook remains strongly bullish