- 1️⃣ It’s a big week for Solana as a16z pours $50M into staking firm Jito and DeFi Development Corp scoops up 86K $SOL worth $9.5M.
- 2️⃣ Collectively, Solana treasury firms now hold about 13.5M $SOL valued at roughly $2.3B, marking a 466% rise year-to-date.
- 3️⃣ Snorter Token is gearing up to launch its trading bot on Solana after its presale close in three days.
- 4️⃣ The bot is positioned to benefit from the growing institutional confidence on the network.
Institutions are scooping up Solana like there’s no tomorrow.
This week alone, DeFi Development Corp just purchased an additional 86K $SOL worth roughly $9.5M. Meanwhile, Andreessen Horowitz’s a16z just invested $50M into Jito Foundation, a Solana staking protocol.
It’s awesome news for projects building on Solana, like Snorter Token ($SNORT), which is set to launch its trading bot on Solana after its presale closes in just three days.
Solana Treasuries Hold $2.3B Worth of $SOL
Collectively, the nine Solana treasury firms hold around 13.5M $SOL, valued at roughly $2.3B – a head-turning 466% increase year-to-date.
Among them, Forward Industries has acquired the largest amount of $SOL at 6.82M, valued at roughly $1.2B today.
DeFi Development Corp follows with 2.19M $SOL ($389M), and Upexi with 2M $SOL ($357.5M).
A16z is also backing Solana, but differently, by leading the funding round for Jito Foundation.
Jito powers a $3.2B liquid staking token and operates
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Author: Leah Waters
