Galaxy & Pantera Boost SOL Accumulation; SOL Eyes Breakout

Solana has drawn massive institutional interest as major investors ramp up SOL accumulation. Galaxy Digital bought over 6.5 million SOL (roughly $1.57 billion) in five days, including nearly 5 million SOL in three days, moving 4.7 million tokens into Coinbase Prime and Fireblocks custody to signal long-term bullish intent. Pantera Capital also confirmed significant SOL holdings and launched a Solana-focused digital asset treasury product. This buying spree is part of a broader Solana strategy that includes a $1.65 billion private placement for Forward Industries led by Galaxy, Jump Crypto, and Multicoin Capital. CEO Mike Novogratz dubbed this the “season of Solana” amid expectations that faster, cheaper blockchains will gain Wall Street traction as U.S. regulators modernize crypto rules. On the technical front, SOL’s weekly chart forms an ascending triangle. A breakout above $250 could push SOL toward $272–$300 in the near term and potentially to a new all-time high near $1,250. SOL trades around $238, up 12% weekly and 23% monthly, with a market cap near $129 billion. Regulatory clarity remains key as the SEC delays Solana ETF decisions until November 2025, though spot ETF approvals by October could trigger fresh inflows. Pending network upgrades—Alpenglow and Firedancer—also aim to boost throughput and scalability on Solana. These developments reinforce Solana as both an institutional hedge and a high-growth blockchain asset.