Solana's institutional adoption has reached a significant milestone, with corporate treasuries now holding over $4.3 billion worth of SOL tokens. According to data from the Strategic Solana Reserve tracker, approximately 17 million SOL tokens (about 3% of total supply) are held by institutions, signaling strong long-term confidence in the blockchain.
Forward Industries emerges as the largest holder with 6.8 million SOL valued at $1.61 billion, while other major participants include Sharps Technology, Solmate, and DeFi Dev Corp, each holding positions worth at least $300 million. The momentum accelerated with Helius (HSDT) closing a $500 million private funding round led by Pantera Capital to launch a dedicated Solana treasury company.
Solana co-founder Kaleo has made bullish predictions, stating: "A $1,000 SOL is no longer a meme but a likely scenario." This optimism is supported by technical analysis showing SOL forming a cup-and-handle pattern with resistance near $295. Analysts note striking similarities between Solana's current setup and Binance Coin's (BNB) rally that recently pushed it past $1,000.
Market sentiment indicators support the bullish outlook, with the Solana Greed and Fear Index hitting 69, indicating extreme greed among investors. The token has outperformed other altcoins by 25% over the past 30 days, reaching an eight-month high of $250 before settling at $244 at time of reporting.
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