Public Firms Dey Gather $591M for Solana, Dem Dey Control 0.65% Supply
Four public companies don collectively buy more than 3.5 million SOL tokens, dem worth about $591 million and dem represent 0.65% of Solana circulation. Upexi lead di way, buy 1.9 million SOL at average price of $168.63 since April and dem stake am fully at 8% APY. DeFi Developments Corp get 1.18 million SOL at average cost of $137.07, plus dem dey sit on $36.8 million unrealised gains. Toronto-based SOL Strategies don gather 392,667 SOL by dollar-cost averaging since June 2024, make $3.9 million profit. Torrent Capital add 40,039 SOL earlier this year for small profits. Meanwhile, SOL price don climb 14% in di last one month, dey trade pass $180 and near important resistance. Dis wave of Solana institutional investment dey show market confidence dey grow, fit push more bullish momentum and long-term stability for SOL.
Bullish
Large-scale purchases wey four public firms make, wey total na 0.65% of Solana supply, show say institutional confidence strong well-well. Upexi dey give 8% staking yield, plus DeFi Developments get $36.8 million unrealised gains, wey highlight demand drivers. The recent 14% price rise and how e break above $180 resistance reflect say people get bullish mind. All these factors fit boost short-term momentum and support long-term stability for SOL.