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SOL Strategies, a Canadian investment company focused on the Solana ecosystem, just bought 122,524 $SOL at an average price of $148.96.
This brings the total purchase value to $18.25M. It’s worth noting that this acquisition is part of the company’s $500M convertible note facility with ATW Partners.
An institutional purchase like this also aligns with SOL Strategies’ wider plans to expand its validator business.
A validator, in case you didn’t know, is a blockchain participant that verifies and adds new transactions on the blockchain. The more assets a participant ‘stakes,’ the more chances that it ‘validates’ the next block.
In this article, we’ll quickly unpack Solana’s positive future outlook and also suggest why the Solaxy presale is among the best cryptos to buy now, seeing as it won’t just benefit from a $SOL boom but also fuel one.
Institutions Keen on Buying $SOL
SOL Strategies seems to be following in the footsteps of MicroStrategy (now, Strategy), which has acquired more than 528,000 $BTC over the last few years.
Similarly, DeFi Development Corp. (JNVR) has submitted an SEC application to raise $1B through a fresh security issue.
It plans to use the funds (or a part of them) to purchase $SOL. Note that it already holds $48.2M worth of the asset.
As a result of its fresh $SOL purchase, SOL Strategies’ shares have jumped over 90% in the last two weeks. It’s currently trading at around CA$2.6.
These purchases directly strengthen our three-pillar strategy of enterprise grade validators, strategic SOL holdings, and Solana technology innovation. – SOL Strategies CEO Leah Wald.
It’s worth noting that Solana has also been showing great technical strength of late. After dipping past $100 during the tariff sell-off, the token has risen around 50% and is now trading at $147.
The bounce has also occurred from the 200 EMA (exponential moving average), which is a strong bullish indicator.
Although far from its all-time high of $295, large institutional buying is a solid vote of confidence in the long-term viability of the project.
If you believe in Solana’s future and want to ride its growth, there could hardly be an altcoin better than Solaxy. After all, it’s the first-ever Solana L2 that overcomes all the shortcomings of Solana L1.
What Is Solaxy ($SOLX)?
Solaxy ($SOLX) is a new cryptocurrency that plans to solve all of Solana’s troubles.
As mentioned earlier, despite the fact that Solana’s popularity is consistently increasing, the blockchain network wouldn’t be able to reach its full potential ($300 and beyond) until it fixes its congestion and scalability issues.
These problems came into existence when hyper-successful coins like $TRUMP and $MELANIA, as well as the meme coin launchpad Pump.fun, brought in a flurry of new investors to Solana.
This clogged the network, which started experiencing performance bottlenecks during heavy traffic.
Solaxy will build the first-ever Layer 2 solution on Solana. Essentially, Solaxy’s answer to Solana’s troubles is offloading some transactions from the network’s mainnet onto a sidechain.
That’s not all, though, because as part of Solaxy’s cutting-edge roll-up technology, it will also bundle multiple transactions into single, optimized batches. These will then be sent for on-chain validation.
Overall, Solaxy will reduce the congestion on Solana and increase its affordability without sacrificing the network’s security.
The Solaxy Presale Has Raised Over $33.5M in Early Investor Funding
$SOLX dominates our list of the best crypto presales on the market right now thanks to class-leading investor interest in the project.
Even better, Solaxy is looking all set to return the investors’ confidence in kind. As per our $SOLX price prediction, the token could explode nearly 12,000% and reach a high of $0.20 by the end of 2030.
It’s worth noting that Solaxy’s unprecedented future potential is also because it’s more than just a medicine for Solana.
$SOLX, a multi-chain token, can also be used for high-frequency dApps. These include:
- Platforms for meme coins and micro-transactions,
- Gaming ecosystems that need real-time interactions, and
- Custom financial applications that require low latency and cost efficiency.
If you want to catch Solaxy before it becomes a top trending crypto, now’s the best time to buy it.
It’s currently in presale, so you can buy $SOLX now for a low price of $0.001716. For more help with the purchase process, check out our detailed guide on how to buy Solaxy.
If you’d like to know more about the project, read through its whitepaper. Also, check out its X feed and Telegram channel for timely updates.
Last but not least, kindly remember that despite their breathtaking potential, both Solaxy and Solana could fall short of your expectations. But that’s just how the crypto market is, i.e., unpredictable and volatile.
Also, this article isn’t financial advice, and you must do your own research before investing.