• Galaxy Digital acquires over 2.1 million SOL worth $486M showing strong institutional interest in Solana.
• Galaxy Digital helps Forward Industries buy $1.65B worth of SOL, marking a significant market shift.
• Large SOL withdrawals by Galaxy Digital spark speculation about long-term holding strategies for Solana.

Galaxy Digital, a leading crypto investment firm, has made notable moves in the Solana (SOL) market. In the past 24 hours, the firm has acquired over 2.1 million SOL tokens, valued at $486 million. 

As shared by blockchain tracking firm Lookonchain, this follows a notable purchase of 706,790 SOL, worth $160 million, highlighting Galaxy Digital’s aggressive accumulation strategy. The influx of funds into SOL reflects growing institutional interest in the cryptocurrency market, particularly in high-performance blockchain assets like Solana.

Galaxy Digital just bought another 706,790 $SOL($160M).

In the past 24 hours, their total buy is a massive 2,159,182 $SOL($486M).https://t.co/OFLLaSJQdS pic.twitter.com/RUoK7NXZMM

— Lookonchain (@lookonchain) September 12, 2025

Exchanges See Large Withdrawals

Notably, recent transaction data revealed that Galaxy Digital has been actively withdrawing Solana tokens from exchanges. In just 12 hours, over 1.4 million SOL tokens, amounting to $326 million, were moved off platforms. 

Consequently, these transactions have sparked speculation about the intentions behind these large withdrawals. Such moves often signal that major investors, such as Galaxy Digital, are preparing for long-term holds or seeking to control more liquidity outside the exchanges.

Support for Forward Industries’ $1.65B SOL Purchase

Alongside these strategic purchases, Galaxy Digital is also facilitating Forward Industries’ acquisition of $1.65 billion worth of SOL. This effort is part of a larger initiative to bolster Forward Industries’ cryptocurrency holdings. 

The massive token withdrawals in tandem with this acquisition suggest that Galaxy Digital is playing a pivotal role in shaping the future of institutional involvement in Solana.

Transaction Data and Patterns

More so, Lookonchain analysis tools have confirmed the rapid flow of SOL tokens into Galaxy Digital’s custody. Transaction logs show consistent inflows of SOL from major exchanges like Binance and Coinbase, all directed to Galaxy Digital’s Fireblocks wallets. 

These transfers have been carefully executed, demonstrating Galaxy Digital’s meticulous approach to managing large crypto assets. Notably, a significant portion of these SOL tokens has been acquired in small yet strategic batches, ensuring favorable purchase conditions.

Market Reactions and Broader Impact

Meanwhile, Galaxy Digital’s actions have already begun to influence the Solana market. As institutional players continue to accumulate significant positions, the Solana price has seen increased volatility. 

Many are anticipating a potential price rally in the near future. The growing interest from high-profile investors suggests that Solana may continue to gain traction in the broader cryptocurrency ecosystem.