SOL Global Announces Strategic Expansion of Solana Holdings with Additional Purchase of $1.5 Million in Tokens

Rhea-AI Summary

SOL Global Investments has announced a strategic expansion of its Solana holdings with an additional $1.5 million purchase of tokens at CDN $343 per token, acquiring 4,372 new tokens. This brings the company's total Solana holdings to 17,028 tokens. The investment follows Solana's recent achievements, including reaching $100 billion in monthly DEX volume and 25 million active addresses in November 2024, with Total Value Locked (TVL) hitting $9.35 billion.

The company's strategy focuses on owning and staking Solana tokens while making targeted investments exclusively aligned with the Solana blockchain. SOL Global recognizes Solana's leadership in blockchain technology through its proof-of-history consensus mechanism, which offers superior speed, scalability, and cost-efficiency.

Positive

• Increased total Solana holdings to 17,028 tokens
• Strategic investment at CDN $343 per token
• Solana ecosystem showing strong growth with $100B monthly DEX volume
• Network growth to 25M active addresses
• TVL reached $9.35 billion

Negative

• None.

Toronto, Ontario--(Newsfile Corp. - December 9, 2024) - SOL Global Investments Corp. (CSE: SOL) (OTC Pink: SOLCF) (FSE: 9SB) ("SOL Global" or the "Company), among the first publicly traded crypto investment companies providing exposure to the rapidly growing Solana ecosystem, is proud to announce its additional $1.5 million acquisition, further solidifying its strategic investment in Solana tokens, at a price of CDN $343 per token which gives it access to an additional 4,372 tokens. This investment demonstrates SOL Global' s continued confidence in Solana's ability to drive the next wave of growth in blockchain technology, decentralized finance (DeFi), and derivatives markets. SOL Global's increased investment in Solana reflects the Company's belief in its transformative potential within the blockchain space. This latest acquisition brings SOL Global's total holdings of Solana to 17,028 tokens. The decision to expand Solana holdings aligns with SOL Global's long-term strategy to invest in projects that offer scalability, innovation, and real-world utility.

Recent developments in the Solana ecosystem reflect its rapid growth and technological innovation, strengthening its position as a leading blockchain network. In November 2024, Solana achieved an all-time high in monthly DEX volume, surpassing $100 billion, and recorded 25 million active addresses. The Total Value Locked (TVL) also reached $9.35 billion, demonstrating strong confidence in its DeFi ecosystem. (source: https://blockonomi.com/solana-sol-breaks-records-network-activity-and-price-soar-to-new-heights/)

The Company's investment strategy emphasizes owning and staking Solana tokens, in line with its previously announced staking strategy, while making targeted investments exclusively aligned with the Solana blockchain. This focused approach underscores SOL Global's commitment to supporting and advancing the growth of Solana-based projects and technologies. The Company believes that Solana tokens has established itself as a leader in the blockchain space with its cutting-edge proof-of-history (PoH) consensus mechanism, enabling unparalleled speed, scalability, and cost-efficiency. The Company believes that these features have made it a go-to platform for developers building decentralized applications (dApps) across various industries, including DeFi, gaming, non-fungible tokens (NFTs), and financial derivatives. Solana's rapidly growing ecosystem, underpinned by its high throughput, continues to attract new developers and institutions worldwide, and underscores the company's focus on strategically investing in platforms that deliver enduring value and impact across industries.

About SOL Global Investments Corp.

SOL Global is a diversified international investment and private equity holding company. The Company is in the process of divesting its current investment partnerships and minority holdings. SOL Global recently announced the transition of investments to focus exclusively on digital asset technology, primarily on Solana and Solana based technologies.

CONTACT INFORMATION

SOL Global Investments Corp.
Paul Kania, Interim CEO, CFO
Phone: (212) 729-9208
Email: info@solglobal.com

Caution Regarding Forward-Looking Information

This press release includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements herein, other than statements of historical fact, constitute forward-looking information. Forward-looking information is frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking information in this press release includes, but is not limited to, the Company's expectations regarding the Solana blockchain and technologies. Forward-looking information reflects the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, technical, economic, and competitive uncertainties and contingencies, including the speculative nature of cryptocurrencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, without limitation, the Company's ability to execute on its business and investment plans; the Company's ability to raise debt or equity through future financing activities and divest its current investment partnerships and minority holdings; the Company's ability to increase its investments in the Solana blockchain and Solana-based technologies; any adverse changes and developments in the Solana blockchain and ecosystem; the growth and development of decentralized finance and the digital asset sector; any new rules and regulations with respect to decentralized finance and digital assets; the inherent volatility in the prices of certain cryptocurrencies including Solana tokens; increasing competition in the crypto and blockchain industries; general economic, political and social uncertainties in Canada and the United States; currency exchange rates and interest rates; the limited resources of the Company; the Company's reliance on the expertise and judgment of senior management and the Company's ability to attract and retain key personnel; the speculative nature of cryptocurrencies in general; and the Company's ability to continue as a going concern. Accordingly, readers should not place undue reliance on the forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232869

FAQ

How many Solana tokens did SOL Global (SOLCF) purchase in December 2024?

SOL Global purchased 4,372 Solana tokens for $1.5 million at CDN $343 per token in December 2024.

What is SOL Global's (SOLCF) total Solana token holdings after the December 2024 purchase?

After the December 2024 purchase, SOL Global's total Solana holdings reached 17,028 tokens.

What was Solana's Total Value Locked (TVL) in November 2024 according to SOL Global (SOLCF)?

According to the announcement, Solana's Total Value Locked (TVL) reached $9.35 billion in November 2024.

What monthly DEX volume did Solana achieve in November 2024 as reported by SOL Global (SOLCF)?

Solana achieved over $100 billion in monthly DEX volume in November 2024.