Solana price surged above $241 after Galaxy Digital purchased over $700 million in SOL on behalf of Forward Industries, driving a near-term 6% gain and ~19% weekly rise. Institutional treasury buys and potential ETF flows are cited as the primary catalysts for the rally.
Galaxy Digital purchased ~3 million SOL (~$700M) across multiple transactions.
Forward Industries led a $1.65 billion raise to build a publicly traded Solana treasury.
Solana price rose 6% in 24 hours and ~19% over the past week amid institutional demand and network upgrades.
Solana price jumps after Galaxy Digital buys ~$700M SOL for Forward Industries — read how institutional treasury demand may drive ETF flows and market momentum.
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What drove the Solana price surge this week?
Solana price climbed to its highest level since January after Galaxy Digital executed over $700 million in SOL purchases, reportedly on behalf of Forward Industries. The concentrated buying from an institutional firm triggered immediate market re-pricing, generating a 6% 24-hour gain and roughly 19% weekly advance.
How did Galaxy Digital and Forward Industries execute the purchases?
According to on-chain tracking data from Arkham Intelligence, Galaxy transferred just over 3 million SOL across multiple transactions, moving assets primarily from Binance and from Coinbase. Forward Industries — a Nasdaq-listed product design company incorporated in 1961 — led a $1.65 billion raise to establish what it calls the world’s largest publicly traded Solana treasury, with Galaxy acquiring and transferring most of the SOL.
Why is institutional demand important for Solana price and market structure?
Institutional purchases matter because they create sizeable, sustained demand that can shift market expectations. Market participants and executives — including Galaxy founder Mike Novogratz and Solflare co-CEO Vidor Gencel — framed this activity as a signal of institutional conviction. Increased treasury allocations reduce available float, and combined with potential Solana ETF approvals, could meaningfully raise long-term demand for SOL.
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Arkham Intelligence data indicates transactions began mid-week, with Galaxy Digital amassing just over 3 million SOL since Wednesday and buying more than $700 million worth over two days. Forward Industries announced completion of a $1.65 billion raise, with Galaxy acquiring the bulk of the SOL for the treasury.
Galaxy’s CEO Mike Novogratz highlighted Solana’s transaction capacity in media statements, calling it fit for next-generation financial markets. Vidor Gencel described Forward’s treasury as a “clear signal” of institutional conviction. Satraj Bambra of Rails cited record network activity, DeFi TVL growth, and ecosystem traction as supporting the thesis that large treasuries can kick off a positive feedback loop for SOL.
Galaxy Digital purchased just over 3 million SOL—primarily moving funds from Binance, with some transfers from Coinbase—across multiple transactions tracked by Arkham Intelligence.
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