A publicly traded company has just raised more capital to deepen their bet on Solana. But, why?
What’s happening:
- SOL Global Investments (CSE: SOL) has raised $4M CAD through a convertible debenture financing round
Why it matters:
- SOL Global Investments is one of the few publicly traded companies in North America that is focused on holding Solana directly as an asset, as well as staking Solana to generate a yield
By the numbers:
- Currently, SOL Global Investments owns 17,683 Solana tokens
- SOL Global Investments has publicly stated that 75% of their latest financing round will go directly into purchasing more Solana
Going deeper:
- Solana has been breaking all time records for fee generation and trading volumes on decentralized exchanges recently, fuelled in large part by the prevalence of new digital assets being launched on the Solana blockchain including Donald Trump’s meme coin
The intrigue:
- Decentralized exchange Raydium also just recently surpassed the total daily trading volume of Uniswap, despite Raydium only operating on the Solana blockchain
