Solana on the rise: Institutions plan to buy billions of dollars worth, while SOL price falls

Solana on the rise: Institutions plan to buy billions of dollars worth, while SOL price falls

In recent weeks, there has been significant institutional interest in the Solana (SOL) cryptocurrency. While its price recently fell below $200, large companies and investors are preparing to increase their holdings, which could strengthen its value in the coming months.

Pantera Capital plans giant fund

According to sources on August 26, Pantera Capital is considering creating a fund worth up to $1.25 billion that would transform the Nasdaq-listed company into "Solana Co." The goal is to accumulate SOL as a treasury asset, with the first phase involving raising $500 million, followed by additional funding of $750 million. This move could create the largest SOL-focused fund, strengthening the cryptocurrency's position in the market.

Other institutions are also following the trend

Pantera is not alone. It was recently announced that three other firms — Galaxy Digital, Multicoin Capital, and Jump Crypto — are in talks to establish a separate Solana-focused treasury with the goal of raising around $1 billion. Large corporations such as Upexi on the Nasdaq stock exchange already hold tens of millions of dollars worth of assets in SOL, with total corporate holdings of SOL now hovering around $700 million.

SOL price: decline, but potential for growth

Despite growing institutional interest, Solana is now trading at around $188, down 8% over the last 24 hours. The token recently fell below the $200 mark, reaching a low of $185. Despite the decline, technical analysis suggests that the market is still balanced and if SOL stays above $185, it may retest the $190-195 range in the coming days.

Outlook

In general, institutional interest could push the price of SOL higher, especially if the expected funds actually get off the ground. However, if the price falls below $185, there could be further weakness towards $170–$175.

Conclusion

While Solana's price is under pressure, interest from big players and planned funds suggest that the cryptocurrency has a promising future ahead. If it manages to stay above key support levels, the growth trend could resume and SOL's market position could strengthen.

*This is not investment advice.

The Coingarage Team