Solana hits $245 with billion-dollar investment and institutional support

• Solana Reaches $245, Fueled by Billion-Dollar Investment
• Forward Industries receives investment led by Galaxy Digital
• BIT Mining adds 17 SOL to its treasury

Solana (SOL) surged 6% this Friday, reaching $245—its highest level since late January. The surge was fueled by significant institutional moves, including a billion-dollar private investment involving major crypto players.

Forward Industries, a design company listed on Nasdaq under the ticker FORD, announced this week a $1,65 billion private placement. The transaction was led by Galaxy Digital, Jump Crypto, and Multicoin Capital, all with a track record in the cryptocurrency ecosystem.

Shortly after the announcement, Forward shares reached $46, but later retreated to $37,72, still up 9,41% from the previous day.

The impact has also been directly reflected in Solana's performance, which has risen steadily since the PIPE deal was revealed. Despite the recent surge, SOL remains about 16% below its all-time high of $293,31 recorded in January, according to CoinGecko data.

Another significant factor in the appreciation was BIT Mining's decision to add 17.221 SOL tokens to its treasury. The company, currently trading under the ticker BTBT on the New York Stock Exchange, also revealed plans to change its ticker to SOLAI. In July, the company's shares surpassed $5 after announcing it would begin accumulating reserves in Solana. Currently, the shares are trading at around $3, up 1,9% on the day.

Furthermore, data from the Myriad prediction market, controlled by DASTAN, indicates a rise in the number of bettors who believe SOL will continue its upward trend. The percentage of users expecting the token to reach $250 before falling back to $130 rose from 66% to 89% over the past week.