Galaxy Digital has purchased roughly 6.5 million SOL (~$1.55 billion) in five days, buying 1.2 million SOL in a single day and moving assets into Fireblocks custody after joining a $1.65 billion private placement tied to a Solana-focused treasury effort.
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Galaxy bought ~6.5 million SOL (~$1.55B) in five days
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Daily purchases included a single-day $306M acquisition and transfers to Fireblocks custody.
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Galaxy joined Multicoin Capital and Jump Crypto in a $1.65B private placement linked to a Solana treasury strategy.
Galaxy Digital Solana purchases surge: ~6.5M SOL bought (~$1.55B). Read details on on-chain flows, Forward Industries rally, and Solana adoption. Learn more.
Galaxy Digital has purchased $1.55 billion worth of Solana in the past five days after joining a $1.65 billion private placement in a Solana treasury firm.
Digital assets investment firm Galaxy Digital has bought $306 million worth of Solana in a single day after teaming up with investment firm Multicoin Capital and trading firm Jump Crypto to create a so-called crypto treasury company.
Galaxy scooped up 1.2 million Solana (SOL) on Sunday from multiple exchanges and sent them to the crypto custody firm Fireblocks, according to on-chain data reported by Lookonchain (reported as plain text).
It extends a Solana buying spree from Galaxy since Wednesday, which has seen it buy up over $1.5 billion worth of the token.
On Thursday, Galaxy said that it’s linking up with Multicoin Capital and Jump Crypto to join in a $1.65 billion private placement round in Forward Industries, a medical device company that recently pivoted to hold large Solana reserves, joining a trend of similar so-called crypto treasury companies.
Source: Lookonchain
What are Galaxy Digital’s Solana purchases?
Galaxy Digital Solana purchases amount to roughly 6.5 million SOL (~$1.55 billion) over five days, with concentrated buys of 1.2 million SOL in a single session and $306 million recorded in one day. On-chain flows show repeated large purchases sent to Fireblocks custody.
How much SOL did Galaxy acquire and how were the buys executed?
On-chain data reported by Lookonchain shows Galaxy purchased tens to hundreds of thousands of SOL per tranche, totaling ~6.5 million SOL in five days. The firm bought 1.2M SOL on Sunday and executed a $306M single‑day acquisition, routing assets to Fireblocks for custody.
Why did Forward Industries stock rally after the Solana pivot?
Forward Industries announced a pivot to prioritize Solana holdings, triggering investor interest. The stock rose ~16% over the past five trading days (to Friday) and is up roughly 620% year-to-date after a rebound to $36.10. The firm reported revenue down 50% year-over-year for the June quarter and net profit margin shifted by -329% versus last year.
How is Solana adoption evolving and what broader data supports this?
Solana adoption is rising: Galaxy Digital was tokenized on Solana on Sept. 3 (first Nasdaq-listed firm tokenized on Solana, reported as plain text). DeFi Development Corp reported buying $117M of SOL in eight days, hitting a 2M SOL treasury milestone. Mert Mumtaz, co-founder and CEO of Helius, notes Solana treasury companies have raised an estimated $3–$4 billion cumulatively. Total value locked (TVL) on Solana hit a record high of $12 billion recently, ranking second to Ethereum by TVL across DeFi projects. CoinGecko reports SOL is up 17.3% in seven days and ~30% in 30 days.
How to track large on-chain Solana purchases?
Track large SOL purchases by monitoring on-chain explorers, custody transfer addresses, and public on-chain analytics reported by blockchain researchers. Watch for repeated large transfers to custody providers (e.g., Fireblocks) and cross-check announcement windows for treasury fundraising or private placements.
| Entity | Amount (SOL) | Approx. Value (USD) | Notes |
|---|---|---|---|
| Galaxy Digital | ~6.5M | ~$1.55B | Multiple large buys, Fireblocks custody |
| DeFi Development Corp | ~2M | ~$117M | Purchased over 8 days; treasury company |
| Forward Industries (stock) | N/A | N/A | Stock rallied ~16% (5 days); 620% YTD |
Frequently Asked Questions
How many SOL did Galaxy buy in one day?
Galaxy bought 1.2 million SOL in a single reported session and executed a $306 million single-day acquisition, according to on-chain reporting attributed to Lookonchain (plain text).
Will Galaxy’s purchases affect Solana’s price long term?
Large institutional buys can increase short-term buying pressure, but long-term price impact depends on broader market liquidity, treasury sell schedules, and continued on-chain adoption across DeFi and institutional treasuries.
Key Takeaways
- Major buy volume: Galaxy acquired ~6.5M SOL (~$1.55B) in five days, including a 1.2M SOL tranche.
- Treasury trend: Galaxy joined a $1.65B private placement alongside Multicoin Capital and Jump Crypto tied to Forward Industries’ Solana pivot.
- Adoption signals: Solana TVL hit a record ~$12B and multiple treasury companies are accumulating SOL, indicating rising institutional interest.
Conclusion
Galaxy Digital’s concentrated purchasing of Solana—totaling roughly 6.5 million SOL (~$1.55 billion)—is a clear institutional signal of interest in on-chain treasuries. Galaxy Digital Solana purchases coincide with Forward Industries’ pivot and broader Solana TVL gains, underscoring growing institutional activity and treasury-driven demand. Monitor custody flows and treasury disclosures for next developments.
