Mentioned:
The excitement around Solana is starting to find its way into the traditional public markets. And there’s a Canadian public company who wants to be a first mover in capturing the opportunity.
What’s happening:
- Sol Strategies (CSE: HODL) has recently refocused their mission to becoming a large owner of Solana as well as providing unique exposure to other Solana based projects and staking infrastructure
Why it matters:
- Solana has been beginning to infiltrate the public markets, with multiple ETFs being approved for Solana in Brazil and Canadian asset management company 3iq filing to list a Solana ETF on the Toronto Stock Exchange
- The entire Solana ecosystem has been seeing an explosion in developer activity and product launches lately, with Solana officially debuting their newest mobile phone and PayPal (NASDAQ: PYPL) putting their stablecoin on the Solana blockchain for the first time
By the numbers:
- Sol Strategies currently owns 105,389 Solana tokens which has a market value of approximately $16.8M USD
Going deeper:
- Sol Strategies is also operating their own validator node on Solana as another way to generate revenue and token based rewards
The intrigue:
- Sol Strategies is not the only publicly traded company to begin acquiring Solana to hold directly as an asset, with DeFi Technologies (CBOE: DEFI) also previously making a purchase of Solana
