Key Insights:
- Solmate purchases $50M in $SOL from the Solana Foundation at a 15% discount.
- Ark Invest now holds an 11.5% stake in Solmate following the recent raise.
- Solana sees the most significant 24-hour stablecoin inflows among L1 and L2 chains.
Solmate’s $50M Purchase from Solana Foundation
Solmate, a treasury company listed on NASDAQ under the ticker symbol SLMT, has acquired $50 million from the Solana Foundation. This purchase was made at a 15% discount, signaling confidence in Solana’s blockchain ecosystem. Solmate has raised $300 million in funding for its digital asset treasury, strengthening its position in the crypto market.
According to Solmate, the decision to acquire $50 million worth of $SOL was part of their strategy to diversify the treasury portfolio. The company aims to secure long-term value in the crypto sector. “We see this as a significant step in our goal to build a robust digital asset treasury,” said a representative from Solmate.
Ark Invest Takes Stake in Solmate
Ark Invest has disclosed that it now owns around 11.5% of Solmate. This marks a new development in Ark’s growing interest in digital assets. The investment firm has been actively seeking opportunities in blockchain technology and cryptocurrency assets.
The firm’s move into Solmate follows the company’s $300 million raise. Ark’s involvement further validates Solmate’s potential as a digital asset treasury provider. “Ark’s investment reflects their belief in our long-term strategy and growth,” said Solmate.
Solana Records Major Stablecoin Inflows
Meanwhile, Solana recently experienced the most significant 24-hour stablecoin inflows among Layer 1 (L1) and Layer 2 (L2) blockchain networks. This surge in stablecoin transactions highlights growing confidence in the Solana ecosystem.
Stablecoins are crucial to the blockchain ecosystem as they offer a stable digital currency for traders and developers. The recent influx of stablecoins onto the Solana network may signal an increase in decentralized finance (DeFi) activity and overall network usage.
