What to know (if you’re still awake):
- In a move reminiscent of a cat chasing its tail, SOL Strategies acquired a whopping 24,000 SOL tokens in March—like collecting stamps, but with more existential dread.
- The company’s shares nosedived 25% faster than a stone thrown off a cliff since early March, almost like SOL was trying for the Olympic gymnastics team with a spin of its own market performance.
- SOL Strategies has spread its wings (or perhaps its tentacles) into validator operations, flapping around not just on Solana but also on the exotic shores of Sui, Monad, and ARCH. A true digital octopus! 🐙
SOL Strategies (HODL), a good ol’ Canadian company that’s akin to a lumberjack wrestling with Wi-Fi on the Solana network, proudly confessed it snagged 24,000 SOL tokens in March, each priced around C$199 (which is about C$139.8 in reality—thank the accountants!). This gigantic purchase put a hefty C$3.37 million dent in their pockets, bringing the total treasure trove of SOL tokens to 267,151. That’s a lot of tokens for a little company potentially in a very big boat!
However, in a plot twist that could rival any soap opera, nearly all of the company’s SOL—about 265,295 tokens—are now staked on four validators it operates, according to today’s operatic overture of an operational update. Since the start of March, the share price plummeted down about 25% while the mighty SOL took a swan dive of 27% into the market abyss.
Since we last flipped our calendars to the Trump presidency era, SOL Strategies’ stock has taken a steeper-than-average rollercoaster plunge of 67%, while dear old Solana has not been shy—down 58%. Ever heard of a bull market? Yeah, us neither.
Leading the charge is Leah Wald, a savy former Valkyrie Investments co-founder, who’s been playing a wild game of digital Jenga by expanding SOL Strategies’ validator infrastructure. This modern-day Noah’s Ark isn’t just catering to Solana, but also reaching out to other Proof-of-Stake chains—like Sui (SUI), Monad (MONAD), and ARCH (ARCH). Validators, of course, are the brave knights, staking their tokens and processing transactions, hoping to earn some glorious rewards in return (probably no free donuts, though). 🍩
In the frenzied month that was March, the firm managed to acquire three validator nodes—including a splendid one from Laine and the ever-useful Stakewiz analytics platform—for a small bag of coins amounting to roughly $24.5 million. That particular deal was so lucrative it more than doubled the SOL staked on the company’s infrastructure—from 1.66 million to over 3.35 million tokens. We’re not saying the firm is swimming in riches, but large inflatable pools have been spotted.
The company also boasts ownership of 3.211 bitcoin, which is kind of like having a pet rock that occasionally shines in the spotlight. But let’s face it, their passion continues to revolve around the lively Solana ecosystem—it’s like the party that never ends (until it does, but let’s not talk about that). 🎉
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2025-04-08 16:02