Galaxy Digital, Jump Crypto, and Multicoin Capital Make $1 Billion Move into Solana
A new development has drawn attention in the cryptocurrency markets. According to a Bloomberg report citing anonymous sources, leading digital asset companies Galaxy Digital, Jump Crypto, and Multicoin Capital are preparing to raise a massive $1 billion fund for Solana (SOL). This initiative could herald a new era in a market that has previously been accustomed to institutional investments focused solely on Bitcoin and Ethereum.
Solana's Treasury Plan
The plan involves acquiring a publicly traded company and establishing a Solana-focused digital asset treasury. According to the report, the three companies are working with investment banking giant Cantor Fitzgerald on this massive fund. Furthermore, the Solana Foundation is reportedly supporting this initiative, creating an atmosphere of institutional approval within the ecosystem.
This development demonstrates renewed confidence in Solana's growing ecosystem. Multicoin Capital co-founder Kyle Samani's statement, "Solana is a project that solves the fundamental limitations of blockchain scalability," particularly reveals why investors are considering allocating such a large fund to Solana.
Potential Market Impacts
The launch of such a large fund could significantly increase Solana's market value. Similar institutional investments have been known to cause significant price fluctuations in the short term. Investor confidence could be reflected not only in the SOL price but also in the total value locked in the ecosystem (TVL).
Indeed, according to market data, Solana is trading around $200 and has gained 6.6% in the last 30 days. CoinMarketCap reports that SOL is trading at $202.03, has a market capitalization of $109.18 billion, and represents 2.81% of the total crypto market. Trading volume has increased by 75% in the last 24 hours. This data demonstrates that even rumors can cause significant market volatility.
Speculation in the Crypto Community
While no official announcement has yet been made from Galaxy Digital, Jump Crypto, and Multicoin Capital, the crypto community is discussing this potential major acquisition. Users on platforms like Reddit and X (Twitter) argue that this venture will strengthen Solana's long-term position, while others question the veracity of the reports. Nevertheless, it is known that previous investments from these three companies played a critical role in Solana's early development.
For example, Multicoin Capital led Solana's $20 million Series A funding round in 2019. This funding was considered a milestone in the network's development. Therefore, a new multi-billion dollar venture could further highlight Solana's advantages of scalability and low transaction costs.
