Canadian Firm Backs Solana with $17 Million Investment Plan for Emerging Projects

• SOL Strategies has revealed that it has drawn funding to invest in Solana as part of its long-existing plans to generate profits for shareholders. 
• Ali Martinez has predicted that Solana could rise to $4000 after surging by 1800% from the current level. 

A Canadian holding company, Sol Strategies, has announced that it has secured funds to invest in the Solana blockchain. According to the report, the company secured approximately $17 million, with $4 million made from the amended credit line to fund this operation.

Speaking on the development, SOL Strategies disclosed that the tokens would be used in four important areas including the decentralized finance protocols, validator operations, and strategic liquidity provision. According to the chairman of SOL Strategies, Antanas Guoga, the decision is based on the overall belief in the corporate strategies and Solana itself. The CEO of Sol Strategies, Leah Wald, also hinted that they plan to expand positions in Solana to generate a return for shareholders.

After evaluating multiple financing options for this strategic investment, we determined that the terms offered through this facility provided the most favorable structure for our shareholders. Our staking strategy is tremendously successful, and we are confident that our expanded position in Solana will generate substantial returns for our shareholders while supporting the continued growth of the Solana ecosystem.

Since its inception, SOL Strategies has sought to capitalize on investment opportunities in staking rewards and Solana-based projects to unlock stakeholders’ participation in Decentralized Finance.

Wald has been one of the most active supporters of this initiative with her years of experience from Valkyrie. As CNF reported last year, her objective is to turn SOL Strategies into a premier investment vehicle for digital assets.

SOL Strategies Previous Operations

In 2024, Leah Wald disclosed that the team plans to expand its validator infrastructure, purchase more Solana, and leverage the opportunities within the ecosystem. Since the third quarter of 2024, Sol Strategies has revamped its operations, staking 236 270 SOL through its validator node. Most of its profits were also invested in buying more Solana while securing them under institutional-grade protocols in partnership with Coinbase.

At press time, SOL was trading at $197 after declining by 4.8% in the last 24 hours and 12% in the last 30 days.

Meanwhile, an analyst called Il Capo of Crypto believes that the asset could hit $300. Analyst Ali Martinez also expects SOL to surge by 1,800% to hit $4000. His prediction came after he disclosed the formation of the cup and handle pattern, which is usually linked with a bullish trend.

Analyzing the pattern, we found that the formation runs through the 2022 bear market, the 2023 consolidation, and the 2024 bull cycle. The handle pattern formed after the SOL reached $200, leading to a surge to $263 in November.

To analyze the price target, Martinez used the Fibonacci extension indicator to project the 2022 bear market low of $9.96. With a target of 2 Fib, the analysis concluded that SOL could target the $4000 level in the future. Meanwhile, on-chain data, as highlighted by CNF in a recent report, indicates that $227 million worth of SOL has been transferred to centralized exchanges.

Exploring some of the catalysts, we discovered that the expected launch of the second Solana smartphone, Solana Seeker, could be a crucial factor. As we mentioned in a recent report, this could be launched in mid-202. Meanwhile, the associated airdrops have skyrocketed demand as the pre-orders cross 145,000.

Solana could also launch its Firedancer this year after working in a limited capacity since 2022. According to the report, this would enable validators to process transactions efficiently.