Solana, one of the fastest-growing layer-1 blockchain networks, experienced a sharp price rally as Galaxy made a massive purchase of over $700 million worth of SOL tokens from various exchanges. The acquisition highlights increasing institutional interest in Solana and its ecosystem, which has been gaining traction for scalability and developer activity.

The large-scale buyout reduced available liquidity across exchanges, sparking upward pressure on SOL’s market price. Analysts suggest that Galaxy’s move is a strong vote of confidence in Solana’s long-term potential, particularly as the blockchain continues to attract DeFi, NFT, and gaming projects.

This surge also comes at a time when Solana has been positioning itself as a credible competitor to Ethereum, thanks to its high-speed transactions and lower costs. With more institutional players like Galaxy stepping in, Solana could see deeper integration into mainstream crypto portfolios.

Looking forward, market watchers will monitor whether this momentum can be sustained and if Solana can solidify its standing among the top digital assets. If institutional accumulation continues, SOL may extend its rally and strengthen its position as a leading blockchain platform.