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Solana-focused investment firm Sol Strategies has significantly expanded its holdings by purchasing an additional 40,300 SOL between Jan. 19 and Jan. 31. The purchases, worth approximately $9.9 million, were made at an average price of $246.53 per token, according to the company’s press release. With this latest acquisition, the Toronto-based firm now owns a total of 189,968 SOLs worth approximately $40.89 million. The company`s average purchase price is approximately $178.39 per SOL. Sol Strategies, which filed to list on Nasdaq last month, sold $2.5 million in convertible notes. The proceeds were used to purchase an additional 6,564.57 SOL at an average price of $265.65 per coin. Related News: Famous Analyst Said, "Even If Everyone is Bearish on Bitcoin and Cryptocurrencies, I`m a Bull", Lists 12 Reasons The surge in investment in SOL comes amid the recent market decline, with Solana’s price trading at $215 at the time of writing, having suffered an 8.5% decline over the past week amid volatility in the cryptocurrency market. Formerly known as Cypherpunk Holdings, Sol Strategies is led by former Valkyrie Investments co-founder Leah Wald. The company has diversified its blockchain infrastructure investments by operating validators not only on Solana (SOL), but also on Sui (SUI), Monad (MONAD), and ARCH (ARCH). *This is not investment advice. Continue Reading: Giant Company Continuously Continues to Accumulate This Altcoin: Applying MicroStrategy Tactics
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
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FTX Kicks Off Payment Process for Creditor Claims
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