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SOL Strategies invests $20M in Solana from ATW funding
By: news todayq|2025/05/07 17:15:01
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SOL Strategies, a Canada listed company that earlier announced securing $500 million convertible notes from ATW Partners, has now reported on May 06, 2025 that it has completed its first buying of Solana for $20 million.It is worth noting that the company has used roughly $18.2 million to buy 122,524 Solana tokens for an average price of $148.96, yet in the past 24 hours, the prices did not show any major surge or decline.The company quoted, “With the closing of our initial $20 million tranche from the ATW facility, we’re executing exactly as promised – strategically acquiring SOL to expand our validator operations and ecosystem position,” said Leah Wald, chief executive officer of SOL Strategies. “These purchases directly strengthen our three-pillar strategy of enterprise-grade validators, strategic SOL holdings, and Solana technology innovation.” SOL strategies support the Solana price from the back According to the available information, SOL strategies have bought around 24,374 Solana tokens between January 31 to February 07, 2025, for nearly $5 million.And till April 07, 2025, the total Solana holding of SOL strategies was 267,151 tokens valued at over $38 million at that time. Despite its dedication to Solana, the company also holds Bitcoins, yet the amount of BTC is 3.211 BTC valued at $309610.93. A quick dive into Solana prices According to data from CoinMarketCap, Solana is currently exchanging hands at $146.07 with a monthly surge of 43.41% and in the same frame it traded lowest $96.59 and highest $156.05.Source: CoinMarketCapIn the 52 weeks time frame the lowest traded price of Solana was $96.59 and it traded highest at $294.33. Despite recent uptrends and bullishness SOL prices are still below its 20 and 50 days exponential moving average, at the same time above 100 and 200 days EMAs. Experts foresee the nearest resistance of Solana at $156.85, followed by $171.43 and next $195.01, and its initial support is $109.69, followed by $95.12, and last support is $71.53.The relative strength index (14) is 55.61, indicating neutrality, commodity channel index (20) is 22.11, determining neutrality with MACD level (12, 26) at 3.75, reflecting a sell signal.Crypto market price updatesWhen writing, the crypto market cap was $2.99 trillion with a surge of 1.69%, and the trading volume was $82.4 billion with an addition of 30.23%, yet the fear and greed index still stands at 53, indicating neutrality. Bitcoin is exchanging hands at $96,552 with a surge of 2.27%, and the market cap was $1.91 trillion with a 2.20%, and the trading volume reached $32.58 billion with a surge of 41.79%.
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