- Galaxy Digital bought over two million Solana (SOL) tokens within 24 hours following CEO Mike Novogratz’s statement calling it ‘Solana Season.’
- Solana’s price increased more than 6%, reaching about $2.40, a level not seen since January 2024.
- Dogecoin (DOGE) rose 3.8% despite a delay in the launch of the Rex Osprey Dogecoin ETF (DOJE).
- Ethereum (ETH) and Ripple’s token (XRP) outperformed Bitcoin (BTC), with prices rising 2.1% and 1.3%, respectively.
- The overall cryptocurrency market cap increased by 1.2% to $4.1 trillion, amid significant futures liquidations totaling $357 million.
Galaxy Digital purchased over two million Solana (SOL) tokens in the past 24 hours after CEO Mike Novogratz declared it was ‘Solana Season.’
This buying activity helped Solana outperform Bitcoin (BTC) and other major cryptocurrencies on Friday morning.
Data from Akham Intelligence shows Galaxy Digital spent around $480 million acquiring SOL tokens.
Following this, Solana’s price surged over 6%, trading near $2.40, reaching highs last seen in January 2024.
Retail sentiment on Stocktwits moved from ‘neutral’ to ‘bullish,’ and discussion volume increased significantly.
In an interview with CNBC, Novogratz highlighted Solana’s fast transaction speeds and expanding role in financial markets as factors behind the recent inflows, calling it a broader ‘Season of SOL.’
Data also indicated growing investor interest in Solana amid this environment.
Meanwhile, Dogecoin (DOGE) rose 3.8% to about $0.2605, reaching a two-month high despite the postponement of the Rex Osprey Dogecoin ETF (DOJE), originally scheduled for Friday.
Bloomberg ETF analyst Eric Balchunas announced the launch was delayed to mid-next week, probably Thursday, via a post on X.
Ethereum (ETH) and Ripple’s native token (XRP) also gained more than Bitcoin, with ETH up 2.1% and XRP increasing 1.3%. Bitcoin’s price rose modestly by 0.9%, trading just below $115,000.
The total cryptocurrency market capitalization grew by 1.2% to approximately $4.1 trillion. According to Coinglass data, futures liquidations totaled about $357 million over 24 hours, with $122 million from long positions and $234 million from shorts.
Among digital asset treasury equities, Michael Saylor-backed Strategy (MSTR) rose 0.74%.
Companies holding Ethereum such as Bitmine Immersive Technologies (BMNR) increased nearly 4%. Bitcoin miners Marathon Holdings (MARA) and Riot Platforms (RIOT) saw modest gains of 0.89% and 0.77%, respectively. Crypto exchange Coinbase (COIN) rose over 1%.
For further details on retail sentiment shifts and data, refer to Akham Intelligence and market news sources.
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