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    Sol Strategies acquires four validators for $18 million to enhance Solana ecosystem staking capabilities

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    Crypto investment company Sol Strategies has bought four validators for $18m from Cogent Crypto, a part of the Solana ecosystem. The firm will buy validators of Solana, Sui, Monad, and ARCH networks, focusing mainly on SOL. Sol Strategies holds nearly 130m SOL, worth about C$32.2m ($22.9m). With this purchase, the firm will increase its staking abilities, supporting Solana’s reputation as a forward-thinking blockchain for institutional and decentralised applications.

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    Sol Strategies, a crypto investment company led by ex-Valkyrie Investments boss Leah Wald, has bought four validators for nearly $18 million. The firm, formerly known as Cypherpunk Holdings, is based in Toronto and will buy the validators from Cogent Crypto, a company within the Solana ecosystem.

    The firm plans to buy validators of Solana, Sui, Monad, and ARCH networks from Cogent Crypto, with the majority of the investment focused on SOL. Validators process transactions and maintain the security of proof-of-stake blockchains, like Solana and Ethereum, by staking or pledging certain amounts of the network’s cryptocurrencies.

    Sol Strategies has been investing in the digital assets sector for years and holds a variety of investments, including Animoca Brands. The company redirected its focus to Solana after bringing on Leah Wald to give investors a chance to indirectly take part in staking rewards and Solana-based projects. The company currently holds nearly 130 million SOL, worth about C$32.2 million ($22.9 million).

    The Solana network, which hosts a number of meme coins, has recently started to gain the attention of institutional investors. Several large-scale financial institutions, including Franklin Templeton, Citibank, and Société Générale, announced new Solana-based projects last September during Breakpoint, the network’s biggest yearly conference.

    Leah Wald, CEO of Sol Strategies, stated that this acquisition would significantly expand Sol Strategies’ staking abilities, which supports Solana’s reputation as a forward-thinking blockchain for both institutional and decentralized applications. The shares of Sol Strategies rose more than 900% this year, while Solana saw a rise of 113%, according to TradingView data.

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