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Galaxy Digital appears to have bought $300 million worth of Solana through centralized cryptocurrency exchanges in the last day. In 13 transactions over the past day, Galaxy purchased 1.24 million SOL from Binance, Coinbase, and Bybit, according to data from Arkham Intelligence.

Galaxy has been steadily acquiring large amounts of Solana from exchanges. Over the past five days, the company has bought about 6.5 million SOL, or $1.57 billion at current market prices, according to a report released on Sunday by the on-chain analytics platform Lookonchain.

Arkham’s data shows that Galaxy transferred millions of SOL to different addresses during this period, mainly to custody wallets on Fireblocks.

The Nasdaq-listed Solana digital asset treasury company Forward Industries (FORD) saw a $1.65 billion private placement last week, led by Galaxy, Jump Crypto, and Multicoin Capital. The three firms collectively subscribed for over $300 million as the private placement closed on Thursday.

Galaxy and the other two companies announced they will provide Forward Industries with financial and strategic support, aiming to make the Solana treasury strategy the top publicly traded institutional player in the Solana ecosystem.

It’s unclear whether the link Lookonchain made between Forward Industries and Galaxy’s Solana acquisition can be independently verified.
Galaxy CEO Mike Novogratz said the cryptocurrency market is about to witness a “season of Solana,” citing strong market momentum and positive regulatory signals..