«Финансовая революция Solana: Как новая волна институциональных инвестиций переопределяет крипторынок» Translation: The Financial Revolution of Solana: How a New Wave of Institutional Investments is Redefining the Crypto Market

The cryptocurrency sector has entered the «Solana season» thanks to a blend of market momentum and favorable regulatory signals, as stated by Galaxy Digital CEO Mike Novogratz in an interview with CNBC.

He highlighted that a significant factor contributing to this trend was the launch of the largest SOL treasury by Forward Industries, amounting to $1.6 billion, supported by Galaxy, Jump Crypto, and Multicoin Capital. He emphasized that firms focused on altcoins are injecting new energy and capital into the industry.

Novogratz also pointed out the evolving regulatory landscape. SEC Chairman Paul Atkins recently confirmed efforts to modernize regulations for integrating traditional markets into blockchain. He affirmed that «most crypto tokens are not securities» and therefore fall outside the regulator’s jurisdiction.

The Galaxy CEO described this as a «radical departure» from previous policies, signaling an acceleration in institutional adoption of digital assets.

In the meantime, Nasdaq has submitted a proposal to the SEC to allow trading of tokenized stocks and ETFs. If approved, blockchain settlements could commence by the third quarter of 2026. Novogratz noted that Solana is particularly suited for financial markets due to its high speed and throughput capacity.

«We’re witnessing a pivotal shift: from discussions to tangible infrastructure. This transition will attract significant capital into the industry,» he added.

Following the CEO’s remarks, Galaxy acquired an additional 2.31 million SOL for $536 million, according to Arkham.

On September 9, Matt Hougan, Bitwise’s Chief Investment Officer, discussed the «Solana season,» predicting an «impressive rally» for the cryptocurrency by year’s end. Contributing factors include the influx of funds through exchange-traded products and corporate treasuries accumulating SOL.

He reminded that a similar scenario saw Bitcoin’s price soar from $40,000 to $125,000, coinciding with the approval of spot ETFs for the leading cryptocurrency.

«It’s not surprising that the formula works. It’s a classic. When demand outstrips supply, prices typically rise,» noted Hougan.

He believes a comparable situation is developing for Solana. Currently, several companies have applied for exchange-traded funds for the altcoin, with a decision from the SEC expected on October 10, which could pave the way for launching the instruments in the fourth quarter.

In July, REX-Osprey launched a Solana ETF with staking functionality, although it has only attracted $195 million thus far.

According to EmberCN, on September 12, around 192,000 SOL valued at approximately $44.9 million were removed from staking linked to FTX and Alameda Research, with the funds moved to exchanges Coinbase and Binance.

Since November 2023, firms have withdrawn a total of 8.98 million SOL worth roughly $1.2 billion at an average price of $134 per token, with a significant portion of the coins still locked up. As per Solscan, 4.18 million SOL valued at $977 million remain in staking.

Over the past 24 hours, Solana’s price has risen by 5.8%. At the time of writing, the asset is trading at $238.

Market participants have forecasted a rise in Solana’s price to $300 amid record total value locked (TVL).