BIT Mining’s $300M Solana Treasury Shift Fuels SOL Price Surge

In a significant move that has energized the Solana (SOL) market, BIT Mining, a NYSE-listed company, has announced plans to convert $200-300 million of its existing cryptocurrency holdings into SOL. This strategic reallocation has already had an immediate impact, with SOL's price surging 4% following the announcement. The decision underscores BIT Mining's confidence in Solana's blockchain ecosystem, particularly its developer community and infrastructure capabilities. As of July 12, 2025, this treasury shift represents one of the largest institutional endorsements of Solana's long-term potential. BIT Mining CEO Xianfeng Yang emphasized the company's belief in Solana as one of the most dynamic ecosystems in blockchain technology. This move not only provides substantial liquidity to the Solana network but also signals growing institutional adoption of layer-1 alternatives to Ethereum. The market response suggests traders view this as a bullish indicator for SOL's valuation prospects in the coming quarters.

BIT Mining Plans $300M Solana Treasury Shift, Boosting SOL Price

Solana (SOL) surged 4% following BIT Mining's announcement of a $200-300 million treasury conversion plan targeting the blockchain's native token. The NYSE-listed firm will reallocate existing crypto holdings to SOL, citing the network's developer ecosystem and infrastructure advantages.

"We believe Solana represents one of the most dynamic ecosystems in blockchain," said BIT Mining CEO Xianfeng Yang. The company joins a growing cohort of institutions building SOL reserves, mirroring MicroStrategy's Bitcoin accumulation strategy.

Technical analysts note SOL could rally toward $183 if it confirms an inverted head-and-shoulders pattern. The MOVE highlights institutional confidence in Solana's scalability as validator participation grows.

Pump.fun Acquires SOL-Based Wallet Tracker Kolscan Ahead of Token ICO

Solana-based memecoin launchpad Pump.fun has acquired Kolscan, a wallet tracking tool, marking its first-ever acquisition. The move aims to integrate Kolscan's analytics with Pump.fun's social trading tools, promising to revolutionize on-chain trading. The announcement comes just days before Pump.fun's highly anticipated public token sale on July 12, targeting $600 million in funding.

The acquisition underscores Pump.fun's belief that on-chain trading is inherently social. "Products that provide social insights and gamify the trading experience are key to growing our ecosystem," said co-founder Alon Cohen. The integration is expected to enhance transparency, copy-trading, and wallet tracking, further solidifying Pump.fun's position in the memecoin launchpad space.

Solana Breaks Out Of Symmetrical Triangle—Next Stop $164?

Solana has surged above a key resistance line, signaling a potential breakout from a Symmetrical Triangle pattern. Analyst Ali Martinez highlights this technical development, suggesting a bullish continuation could be underway.

Symmetrical Triangles, characterized by converging trendlines, typically precede significant price movements. A breakout above the upper trendline often projects a target equal to the pattern's height. Solana's current trajectory aligns with this technical thesis.

The cryptocurrency's narrowing price range had been approaching the triangle's apex, increasing the likelihood of a decisive move. This breakout comes as traders watch for confirmation of sustained upward momentum.

Solana Gains Momentum as Upexi Allocates $200M to Crypto Treasury

Solana (SOL) surged 6.23% to $166.28 amid bullish institutional activity, with technical indicators confirming strong accumulation. The rally follows Nasdaq-listed Upexi's $200M private financing deal to expand its SOL-dominated crypto treasury.

Upexi secured $50M in equity—including CEO Allan Marshall's premium share purchase—and $150M in SOL-backed convertible notes. The Tampa-based firm already holds 735,692 SOL, an 8% increase since May, and plans to double its position post-financing.

Technical analysis reveals SOL broke through $165.30 resistance with conviction, peaking at $166.76. Institutional buying clustered at $160.31, while $164.30 emerged as robust support during volatile consolidation.