Quick breakdown
- Galaxy Digital purchased $306M in Solana on Sunday, extending a $1.55B buying spree in five days.
- The firm is working with Multicoin Capital and Jump Crypto in a treasury initiative linked to Forward Industries.
- Solana adoption is booming, with TVL surpassing $12B and treasury firms accumulating billions in SOL.
Galaxy expands Solana holdings with $306M purchase
Digital asset manager Galaxy Digital has acquired 1.2 million Solana (SOL) worth $306 million in a single day, according to on-chain data tracked by Lookonchain. The tokens, purchased across multiple exchanges on Sunday, were transferred to crypto custody platform Fireblocks.
Galaxy Digital bought another 1.2M $SOL($306M) in the past 24 hours.
Their total buys over the past 5 days have now reached ~6.5M $SOL($1.55B).https://t.co/f4FXOfK0vJ pic.twitter.com/NQ9da23mzm
— Lookonchain (@lookonchain) September 15, 2025
This latest haul extends Galaxy’s Solana accumulation spree, which began last Wednesday and has now totaled 6.5 million SOL worth around $1.55 billion in just five days.
Partnership with multicoin and jump crypto
Galaxy’s buying spree comes shortly after the firm announced a tie-up with Multicoin Capital and Jump Crypto to form a crypto treasury-focused initiative. The firms are also participating in a $1.65 billion private placement round for Forward Industries, a medical device company that recently pivoted into digital assets with ambitions of becoming one of the largest Solana-holding public companies.
While it remains unclear if Galaxy’s Solana purchases are directly tied to Forward’s initiative, the scale and timing of the acquisitions have fueled speculation across the market.
Forward industries stock surges on Solana pivot
Forward Industries (NASDAQ: FORD) has seen its shares rally on the back of its Solana-focused shift. The stock climbed 16% over the past week and is up a staggering 620% year-to-date, closing Friday at $36.10 according to Yahoo Finance data.
Solana adoption accelerates
The broader Solana ecosystem has been experiencing rapid growth. On September 3, Galaxy Digital became the first Nasdaq-listed firm to be tokenized on Solana. Meanwhile, DeFi Development Corp disclosed that its Solana treasury crossed 2 million SOL following an additional $117 million purchase.
Industry voices like Mert Mumtaz, CEO of Helius, suggest Solana treasury firms have raised $3–$4 billion cumulatively, underscoring a trend of public and private companies treating Solana as a strategic asset.
At the same time, Solana’s total value locked (TVL) in DeFi projects hit a record $12 billion earlier this month, second only to Ethereum. The token itself has gained 17.3% in the past week and nearly 30% over the past month, according to CoinGecko.
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