SOL Strategies Secures $500M to Buy More Solana
Summary
SOL Strategies has secured a $500 million convertible note from ATW Partners to purchase Solana, marking the largest financing facility in the Solana ecosystem. This agreement is the first directly tied to staking yield. Solana, with a market capitalization of $77 billion, has seen a price increase of over 20% in two weeks, currently trading at $152. The rise in Solana's value coincides with a resurgence in meme coins. SOL Strategies aims to become a leading institutional staking platform through this acquisition. The company currently holds 267,151 SOL, valued at over $40.4 million. SOL Strategies' stock has increased nearly 25% recently, trading at $2.27 CAD (US$1.64) per share.
