Solana Price Prediction: September Outlook Brightens as Galaxy Digital Fuels Another Rally
Solana (SOL) continues to command market consideration after Galaxy Digital bought $300 million value of SOL in 13 transactions throughout Binance, Coinbase, and Bybit. The digital belongings funding agency has now acquired over 6.5 million SOL prior to now 5 days, value roughly $1.57 billion, in response to on-chain knowledge.
These purchases come as a part of a broader Solana-focused technique. Galaxy, alongside Jump Crypto and Multicoin Capital, not too long ago led a $1.65 billion personal placement for Forward Industries.
The transfer locations Forward Industries as a key institutional actor within the ecosystem, with Galaxy transferring massive batches of SOL into custody wallets on Fireblocks, signaling long-term holding intent.
Novogratz: “Season of Solana” Begins
Galaxy Digital CEO Mike Novogratz has described the present market part as the “season of Solana.” He emphasised that quicker and cheaper blockchains like Solana at the moment are primed for Wall Street adoption, particularly as U.S. regulators trace at modernizing crypto guidelines.
SEC Chair Paul Atkins not too long ago famous that the majority crypto tokens might fall exterior securities legislation, a stance Novogratz referred to as a “radical departure” from previous approaches.
He believes this readability will speed up institutional adoption, particularly for networks like Solana, which supply high throughput and sub-cent transaction prices with out counting on Layer 2 scaling options.
Analysts Eye $300 as Next Solana Target
With SOL buying and selling round $233.15, the token has climbed 12% prior to now week and over 23% prior to now month. Analysts counsel {that a} breakout above $253 may pave the way in which towards $272–$300, ranges final seen in late 2023.
Matt Hougan, CIO at Bitwise, famous that spot Solana ETFs awaiting SEC approval may unleash additional inflows by October. He in contrast the momentum to Bitcoin’s treasury-driven rallies, saying Solana’s distinctive mix of velocity, scalability, and institutional curiosity may amplify its worth trajectory.
For now, Solana sits simply 16% beneath its all-time high, with bullish technical indicators supporting the case for an additional leg upward. If Galaxy’s shopping for spree continues and regulatory readability arrives, September may introduce one other Solana rally.
Cover picture from ChatGPT, SOLUSD chart from Tradingview