Solana’s price is holding strong as Galaxy Digital ramps up its multibillion-dollar push to build a dedicated Solana treasury.
Summary
- Solana price outlook remains bullish as it trades near $240. Up 16% in a week, with analysts eyeing a $245–$250 breakout and potential move toward $270+.
- Galaxy Digital, via Forward Industries, bought 4.3 million SOL in three days, lifting its total to 6.5M SOL worth an estimated $1.55 billion.
- Institutional demand fuels market rank as rapid accumulation helped push Solana’s market cap past BNB, making SOL the fifth largest cryptocurrency.
Galaxy Digital, through its Solana treasury vehicle Forward Industries, has purchased another 4.3 million SOL, worth roughly $1.1 billion. According to on-chain tracker Lookonchain, the accumulation occurred over a three-day period, following the $486 million SOL it acquired in a single 24-hour window earlier in the week.
The latest activity raises Galaxy’s total holdings to roughly 6.5 million SOL (SOL), valued at about $1.55 billion at current market prices, the majority of which have been moved into institutional custody on Coinbase Prime.
Earlier this month, Forward Industries raised $1.65 billion to create a Solana treasury led by Galaxy Digital, in collaboration with two other entities Multicoin and JumpCrypto. With much of that capital already deployed within a week, the fund is racing ahead of expectations and providing a clear tailwind for Solana demand.
Galaxy’s rapid accumulation coincides with Solana’s continued price strength, which has pushed the token toward fresh highs and lifted its market capitalization, recently becoming the fifth-largest cryptocurrency.
Solana price outlook
Solana is trading around $240 at the time of writing, per market data from crypto.news. Though the asset is down roughly 2.58% on the day, it remains up about 16% over the past week, extending the network’s strong momentum into mid-September.
The token is holding well above its early-month breakout level near $215. SOL recently cleared a key resistance zone around $220, setting up a new ceiling in the $245–$250 range. A decisive close above that level could open the way toward $270 or even $300 in the coming weeks, if buying activity and on-chain growth continue.
Support would be firm in the $220 region if bulls defend price during intraday pullbacks. Failure to maintain that floor, however, could trigger a sharper correction toward $210 or even $200, especially if the market weakens or profit-taking accelerates.
For now, Solana price fundamentals remain strong. SOL’s total value locked in DeFi protocols has reached record highs above $13 billion as capital continues to flow into its ecosystem, and the growing institutional interest adds another layer of demand that can help push gains higher.
