Skyrocketing Solana Treasury Funding Fueling Helium's 141% Price Surge with a $500 Million Investment
In a significant development, consumer products manufacturer Upexi has tripled its Solana holdings, now owning over 2 million SOL following multiple purchases since June. This trend of Solana accumulation is not isolated, as other companies have also jumped on the bandwagon.
The catalyst for this institutional shift seems to be the optimistic outlook on Solana, with Dan Morehead, founder and managing partner of Pantera Capital, describing Solana as a 'category-defining blockchain' and the foundation on which a new financial system will be built.
This sentiment is echoed in the market, as shown by a recent survey on Myriad, where 90% of investors predicted that Solana will rise to $250 rather than sink to $130.
One of the most notable developments is Helius Medical Technologies' decision to raise $500 million through a private placement in public equity (PIPE) to create a Solana treasury. The offering was led by Pantera Capital and Summer Capital, with participation from other notable firms such as Big Brain Holdings, Avenir, FalconX, Arrington Capital, Animoca Brands, HashKey Capital, and others.
Following this fundraising, Helius Medical Technologies became one of the growing list of Nasdaq-traded companies shifting their focus to accumulate SOL. Helius shares closed at $18.27, up about 141% in Monday trading.
Another company making headlines is Forward Industries, a medical design firm that completed its first major Solana acquisition on Monday, becoming the largest publicly traded Solana treasury after amassing nearly $1.6 billion worth of SOL.
The trend of Solana accumulation is also evident in the edtech company, Classover, which purchased about 6,500 SOL in June as the first step in a plan backed by a $500 million convertible note program dedicated to acquiring and staking SOL.
DeFi Development Corp, previously known as Janover, has also joined the bandwagon, adding more than 603,000 SOL over the past three weeks, bringing its tally above 2 million SOL.
SOL Strategies, another company, now has 3.6 million SOL delegated to its validators, or greater than $820 million in assets under delegation, according to its August business update. Last week, SOL Strategies started trading on the Nasdaq Exchange, increasing its exposure to investors beyond the Canadian Stock Exchange and OTC markets.
The Solana price recently traded at $233, up nearly 60% over the past three months. These developments suggest a broader institutional trend toward Solana integration, with companies recognising its potential as a category-defining blockchain.
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