Publicly traded companies keep buying Solana. Now, they’re getting into staking too.
What’s happening:
- SOL Global Investments (CSE: SOL) has announced they have begun staking their Solana tokens
By the numbers:
- SOL Global Investments has begun staking 8,123 Solana tokens
- Currently, SOL Global Investments is earning a yield of approximately 5.6% annually from staking
- SOL Global Investments also just raised $3.6M CAD in an equity financing which they have publicly stated they intend to use solely to acquire more Solana
Why it matters:
- Solana is quickly beginning to find its way into the traditional public markets, with a sharp uptick in both publicly traded companies purchasing Solana to hold directly as an asset and more spot Solana ETFs being applied for with the United States Securities and Exchange Commission by large North American asset management companies
Going deeper:
- Solana has also continued to shatter records for user growth, trading volumes and transaction fees, as more and more developers continue to build new digital asset applications and protocols on top of the Solana blockchain
The intrigue:
- Popular trading app and brokerage Robinhood (NASDAQ: HOOD) just recently relisted Solana for trading onto their platform, after previously having taken it off due to regulatory concerns around crypto and digital assets as a whole
