CandleFocus Sol Strategies Bought $10M Worth of Solana Token – SOL Price Soars 7%
2025-02-04
Author: Content Editor
Canadian publicly traded company Sol Strategies has purchased an additional 40,300 SOL tokens, bringing its total holdings to 189,968 SOL. The purchase was valued at approximately CAD 14.3 million ($9.9 million), with an average price of CAD 355.77 ($246.53) per SOL. Sol Strategies has been actively increasing its stake in the Solana ecosystem and has also completed a private placement of convertible debentures worth $2.5 million. The company's Chief Investment Officer, Moe Adham, has resigned but will continue advising the company on strategic matters. Solana's price has jumped 7%, trading around $207, with a market cap nearing $100 billion. Technical indicators suggest that if SOL can surpass the $210-$220 level, it could continue to rise towards $250 or higher.
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