Solana could see its biggest treasury bet to date with Galaxy Digital, Jump Crypto, and Multicoin Capital reportedly lining up a $1 billion plan.
The three firms have hired Cantor Fitzgerald LP as lead banker for the deal, according to the report. The effort has also won endorsement from the Solana Foundation and could be finalized in early September.
If the $1 billion plan goes through, Galaxy and company would have created the largest treasury for Solana. At present, Upexi is the leading SOL treasury with about $400 million in holdings.
The cryptocurrency market has seen a shock during the past day, and Solana hasn’t been spared as its price has gone down by around 3%. Over the weekend, the coin had managed to surpass $210, but this drawdown has meant the asset is back at $197.
Below is a chart that shows how the asset’s recent performance has looked.
While SOL has witnessed this drawdown, it’s holding onto a chunk of its recent gains, which means it remains the best performer among the top coins with a weekly return of more than 8%.
