Solana Treasury Holdings Reach $4 Billion
Solana-based corporate treasuries have surpassed $4 billion as companies continue to increase their holdings in the token, according to newly released data.
Figures from the Strategic Solana Reserve on Tuesday showed that corporate treasuries hold 17.11 million SOL, valued at $4.03 billion. This represents nearly 3% of Solana’s circulating supply of more than 600 million tokens. Forward Industries leads the pack with more than 6.8 million SOL worth $1.61 billion.
Other companies, including Sharps Technology, DeFi Development Corp., and Upexi, each hold around 2 million SOL, with allocations above $400 million.
Institutions expand Solana reserves
Forward Industries revealed its Solana reserve on Sept. 8, backed by support from firms such as Galaxy Digital, Multicoin Capital, and Jump Crypto. Shortly after, Galaxy purchased roughly $306 million worth of SOL in a single day.
Meanwhile, Helius Medical Technologies announced a $500 million Solana treasury reserve this week, with backing from Pantera Capital and Summer Capital. Dan Morehead, CEO of Pantera Capital, described Solana in a CNBC interview as the “fastest, cheapest, most-performing” blockchain, also disclosing that Pantera holds a $1.1 billion position in SOL.
Solana trails behind Bitcoin and Ether reserves
Despite the rapid growth, Solana still has a long way to go compared to bitcoin and ether corporate reserves. Data from BitcoinTreasuries.NET shows that treasuries hold 3.71 million BTC worth about $428 billion, representing roughly 17% of total Bitcoin supply.
On the Ethereum side, Strategic ETH Reserve data indicates nearly 5 million ETH worth over $22 billion are held by corporate entities. Additionally, ETH-based ETFs hold around 6.77 million ETH, valued at more than $30 billion.
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