Canadian Investment Firm Cypherpunk Holdings Expands Its Solana Holdings

IconCryptoNewsTerminal Staff01 Aug, 2024

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Canadian Investment Firm Cypherpunk Holdings Expands Its Solana Holdings

Cypherpunk Holdings, a Toronto-based investment firm, has made a significant purchase of Solana (SOL) tokens, acquiring approximately 23,000 since mid-July. This brings their total SOL holdings to 86,294, representing an increase of over 10x since their initial purchase last month. Cypherpunk Holdings' recent SOL purchases were made at an average price of $3.29 million and have significantly increased the firm's exposure to the Solana ecosystem. The firm also disclosed that it had sold a portion of its Bitcoin (BTC) holdings to fund these SOL acquisitions. This move by Cypherpunk Holdings aligns with the growing interest and investment in the Solana blockchain. Its high transaction speeds, low fees, and scalability have made it an attractive platform for decentralized applications and projects.

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