Strategic Solana Reserve data showed that Solana treasuries have hit 17.11 million SOL tokens, worth over $4 billion at current prices. Solana-based corporate treasuries surged past $4 billion as companies have continued to accumulate the cryptocurrency, according to new data. Data from the reserve tracker, Strategic Solana Reserve, showed on Tuesday that Solana treasuries hit 17.11 million tokens, worth $4.03 billion at current prices. The reserves accounted for almost 3% of Solana’s (SOL) circulating supply of more than 600 million tokens. The largest participant was Forward Industries, which held more than 6.8 million SOL, worth $1.61 billion. Other firms such as Sharps Technology, DeFi Development Corp. and Upexi each held about 2 million SOL, with individual allocations exceeding $400 million. Read more
A bullish signal from Solana’s SuperTrend indicator projected a major rally, though SOL price could drop to $220 before taking off. Key takeaways: Solana’s Supertrend indicator sent a “buy” signal that has led to a 1,300% price rally in the past. Resistance at $250 and overbought conditions show a risk of SOL retesting $220. Read more
Helius said it will explore staking and lending opportunities to further leverage its SOL treasury, which it plans to build over the next 24 months. Nasdaq-listed Helius Medical Technologies is launching a $500 million corporate treasury reserve built around Solana, making it one of the largest Solana-focused treasury initiatives to date. The company announced Monday that it priced an oversubscribed private investment in public equity (PIPE) offering of common stock at $6.88 per share, along with stapled warrants exercisable at $10.12 for three years. The deal includes $500 million in equity and up to $750 million in warrants, assuming full exercise. Helius said it will use the net proceeds of the offering to establish a crypto treasury strategy with the Solana (SOL) token as its main reserve asset. The company said it will “significantly scale holdings over the next 12-24 months via best-in-class capital markets program incorporating ATM sales and other proven strategies.” Read more
Solana futures open interest rose to $16.6 billion as Galaxy and Forward Industries joined the adoption party. Is SOL headed toward $300 next? Key takeaways: Solana futures open interest hit $16.6 billion, and its perpetual futures funding rates are stable, hinting at further price upside. Spot-driven rally pushes SOL price, reinforced by Galaxy and Forward Industries’ buy demand. Read more
SOL price is 70% higher than its $125 lows reached on June 22, as onchain data and a classic pattern suggest that SOL is on track to fresh record highs. Key takeaways: Solana's total value locked rises to an all-time high above $12 billion. Solana’s memecoin daily trading volume jumped 73% over the last 24 hours. Read more
Forward Industry’s $1.6 billion SOL corporate treasury would be nearly triple the size of the largest existing Solana reserve. Nasdaq-listed design and manufacturing company Forward Industries secured $1.65 billion in cash and stablecoin commitments to launch a Solana-focused crypto treasury strategy. The company said Monday that it raised the largest Solana (SOL) treasury to date, led by crypto-native companies Galaxy Digital, Jump Crypto and Multicoin Capital. Other participants included C/M Capital Partners, which is one of Forward Industries’ existing shareholders. This follows a Bloomberg report in late August saying the three crypto giants were planning to raise $1 billion and take over a publicly-traded company to create the biggest crypto treasury dedicated to Solana. Read more