Shares in tech funding agency MemeStrategy soared 28.5% after changing into the primary publicly listed firm in Hong Kong to put money into Solana, snapping up 2,440 cash and committing to assist the broader Solana ecosystem.
MemeStrategy stated in a press release on Monday that it bought 2,440 Solana (SOL) for round 2.9 million Hong Kong {dollars} ($368,820) by OSL Group, a crypto asset platform licensed by the Hong Kong Securities and Futures Fee.
MemeStrategy commits to Solana long run
The transaction, executed at a median SOL worth of about $151.70, is a part of MemeStrategy’s plan to increase its presence within the Solana ecosystem, together with by collaborating in Solana’s proof-of-stake structure to contribute to community safety whereas incomes staking rewards.
MemeStrategy, Asia’s first publicly-listed digital asset enterprise, stated its board acknowledged Solana’s potential in real-world asset tokenization and AI-driven Web3 options.
“This funding aligns carefully with our give attention to AI, blockchain, validation applied sciences, and next-generation tech improvement, marking a major step ahead in MemeStrategy’s growth into digital property and the Web3 ecosystem.”
MemeStrategy shares rise on the Solana buy
MemeStrategy (2440.HK) shares rose 28.5% on the Hong Kong Inventory Trade on Monday to $2.57 and have elevated to $2.70 in early buying and selling hours on Tuesday, Google Finance knowledge reveals.
The will increase take MemeStrategy’s market cap to $652.55 million Hong Kong {dollars} ($83.1 million).
MemeStrategy is managed by 9GAG, a meme platform that has over 200 million customers, and is leveraging its social media and Web3 experience to strategically put money into AI, blockchain and tradition.
Cantor Fitzgerald praises Solana
Firms trying to put money into Solana might profit from elevated use of the coin within the monetary trade, a Cantor Fitzgerald analyst wrote in a latest observe seen by Bloomberg.
Cantor’s Thomas Shinske stated Solana’s high-speed, low-cost community might be well-suited for tokenized securities and that corporations may assist community safety whereas incomes rewards.
Associated: ETF filings explode in 2025, heating hopes of an ‘altcoin summer time’
“With elevated liquidity making it simpler to boost capital, Solana treasury firms can observe the ‘Saylor playbook’ and lift capital at a premium to [Net Asset Value], buy SOL, and enhance SOL-per-share,” Shinske stated.
“Combining staking with treasury operations ought to lead to Solana treasury firms rising SOL/share sooner than BTC treasury firms rising BTC/share, all else equal.”
A chart from Bloomberg reveals that Solana treasury corporations Upexi and DeFi Improvement Corp have massively outpaced SOL since April 16, rising 306% and 207% whereas SOL has elevated 19% over that very same timeframe.
Sol Methods, one other Solana treasury agency, can be up 33%.
Journal: Older traders are risking the whole lot for a crypto-funded retirement
