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https://finance.yahoo.com/news/solana-surges-again-galaxy-digital-194058564.html

Investment firm Galaxy Digital has purchased over $700 million in Solana within the past two days, as part of its investment in SOL treasury firm Forward Industries. And the price of Solana has continued to rise, all the while.

Galaxy has been transferring SOL mostly from Binance—and also from Coinbase—across multiple transactions, with data from Arkham Intelligence indicating that it has bought just over 3 million SOL since Wednesday.

The asset manager may be making these purchases on behalf of Forward Industries, in which it has led a $1.65 billion investment, with participation from Jump Crypto and Multicoin Capital.

Incorporated in 1961, Forward is a Nasdaq-listed product design company that’s using the proceeds of this week’s raise to build what will be the world’s largest publicly traded Solana treasury, with Galaxy responsible for acquiring and transferring the bulk of the SOL.

Galaxy’s collaboration with the firm comes as it takes a keener interest in Solana, which it described as “uniquely positioned to power the next generation of capital markets” in a tweet announcing its investment.

Galaxy founder and CEO Mike Novogratz also discussed the merits of Solana in an interview with CNBC’s Squawk Box on Thursday, declaring that Solana’s blockchain can process “14 billion transactions” per day.

Summarizing why Galaxy is excited about Solana, he said, “You’ve got a blockchain that’s now fast enough, tailor-made to be the blockchain for financial markets.”

He then referred to remarks made by SEC Chair Paul Atkins, who on Wednesday gave a keynote speech in which he discussed the agency’s Project Crypto push—its “sweeping initiative” to encourage “our markets to move on-chain.”

Solana Jumps Above $240, Hitting Highest Price Since January

And because of the alignment of these two factors, Novogratz affirmed that he’s calling the current period “the season of SOL.”