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SOL Strategies Buys $18 Million of SOL: Will Solana’s Bullish Momentum Return?

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SOL Strategies Buys $18 Million of SOL: Will Solana’s Bullish Momentum Return?

Jakarta, Pintu News – In early May 2025, SOL Strategies Inc, a Canadian-listed company focused on developing the Solana (SOL) blockchain ecosystem, announced a massive $18.25 million purchase of SOL tokens.

This strategic move marks the company’s continued commitment to supporting and expanding Solana’s validator operations and technology innovations.

Strategic Buying by SOL Strategies

sol strategies borong solana
Source: SOL Strategies

SOL Strategies has completed the purchase of 122,524 Solana (SOL) tokens at an average price of $148.96 per token, which is part of the first tranche of its $500 million convertible note facility.

Read also: Pi Network Jumps 9% Today (8/5/25): What Can We Expect from Consensus 2025?

This purchase not only increases the number of Solana (SOL) tokens held by the company but also strengthens their position in the Solana (SOL) ecosystem.

Leah Wald, CEO of SOL Strategies, emphasized that this purchase supports the company’s three-pillar strategy which includes enterprise-class validators, strategic Solana (SOL) ownership, and technology innovation.

The purchase was announced following the successful closing of a $20 million seed funding facility, which allowed the company to proceed with its planned acquisition of Solana (SOL) using the proceeds. This demonstrates SOL Strategies’ commitment to strengthening and expanding their validator operations and ecosystem position.

Solana Network Growth Drivers

A recent report from VanEck shows that the meteoric growth of memecoin on the Solana network is a key driver of on-chain revenue.

In January and April 2025, memecoin trading on the Solana network accounted for 44% and 35% of all trading on decentralized exchanges (DEXs). This shows that Solana has an unparalleled ability to process large volumes of decentralized trading.

In addition, market data analysis from Nansen shows that the top five DeFi products in Solana – including Raydium (RAY), Fluxbeam, Pump.fun, and Jupiter (JUP) – recorded more than 239 million users in the past 30 days. This reaffirms that Solana continues to attract significant user activity, which could strengthen the medium-term price outlook.

Read also: Bitwise Takes Bold Step Toward Launching First-Ever NEAR ETF with SEC Filing!

Medium-Term Expectations for SOL Prices

Although Solana prices experienced noticeable growth in April, they have been stuck in a correction phase for the past two weeks.

With a full valuation of about $85 billion and a total locked-in value of about $7.6 billion, Solana has declined about 2% in the past 24 hours, trading at about $142 as of the mid-North American session on Tuesday, May 6.

From a technical analysis point of view, Solana price is well-positioned to rally towards $174 if buyers can sustain the price above $140 in the coming days.

However, if the support level of around $142 is broken, the Solana price will drop towards the next liquidity level of around $125.

Overall, SOL Strategies’ large investment in Solana shows a strong belief in the blockchain’s long-term potential.

With continued support of validators, strategic ownership, and innovation, SOL Strategies is at the forefront of capitalizing on the growth generated by the trading activity of memecoins and DeFi products on the Solana network. This may be a good indicator for investors looking for opportunities in the growing crypto ecosystem.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

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