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yesterday

Galaxy Digital Buys 6.5 Million SOL in Five Days as On-Chain Data Flags Fresh $300 Million Intake

Galaxy recently backed a $1.65 billion Forward Industries raise to form a Solana treasury, with any tie to the market purchases unconfirmed.

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Overview

  • Arkham Intelligence tracked 1.24 million SOL moving to Galaxy across 13 transactions in 24 hours sourced from Binance, Coinbase, and Bybit.
  • Lookonchain data puts Galaxy’s five‑day haul at about 6.5 million SOL worth roughly $1.55 billion, including about 1.2 million SOL bought in the latest day.
  • Most of the withdrawn tokens were routed to Fireblocks custody wallets, indicating institutional storage workflows after exchange buys.
  • Galaxy, Multicoin Capital, and Jump Crypto led a $1.65 billion private placement in Forward Industries, and Galaxy has said it will support Forward’s role in the Solana ecosystem.
  • Solana fundamentals remained firm with DeFi TVL near $12 billion as technical analysts highlighted a cup‑and‑handle pattern testing $245–$250 resistance.