{"id":83901,"date":"2025-09-12T13:58:46","date_gmt":"2025-09-12T10:58:46","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=83901"},"modified":"2025-09-12T14:02:25","modified_gmt":"2025-09-12T11:02:25","slug":"mike-novogratz-declares-solana-season","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/mike-novogratz-declares-solana-season\/","title":{"rendered":"Mike Novogratz declares &#8216;Solana season&#8217;"},"content":{"rendered":"<div class=\"wp-block-text-wrappers-keypoints article_keypoints\">\n<ul class=\"wp-block-list\">\n<li>Galaxy Digital\u2019s CEO voiced confidence in Solana\u2019s ascent as his firm added 2.31 million SOL.<\/li>\n<li>Bitwise\u2019s Matt Hougan predicted an \u201cimpressive rally\u201d for the cryptocurrency by year-end.<\/li>\n<li>FTX and Alameda unstaked 8.98 million SOL.<\/li>\n<\/ul>\n<\/div>\n<p>Buoyed by market momentum and friendlier regulatory signals, crypto has entered \u201cSolana season\u201d, said Galaxy Digital chief executive Mike Novogratz in an interview with <a href=\"https:\/\/www.cnbc.com\/video\/2025\/09\/11\/galaxy-ceo-mike-novogratz-bitcoin-could-see-another-big-surge-towards-the-end-of-the-year.html\">CNBC<\/a>.\u00a0<\/p>\n<p>A key catalyst, he said, was the <a href=\"https:\/\/forklog.com\/en\/news\/forward-industries-backed-with-1-65bn-from-galaxy-jump-and-multicoin-joins-the-solana-treasury-race\">launch<\/a> of the largest SOL treasury, at $1.6bn, by Forward Industries with backing from Galaxy, Jump Crypto and Multicoin Capital. He noted that \u201cfirms focused on altcoins are bringing new energy and money into the industry\u201d.\u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"355\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-44d8c7a323924208-4067267943837684-1024x355.png\" alt=\"image\" class=\"wp-image-265700\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-44d8c7a323924208-4067267943837684-1024x355.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-44d8c7a323924208-4067267943837684-300x104.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-44d8c7a323924208-4067267943837684-768x266.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-44d8c7a323924208-4067267943837684-1536x533.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-44d8c7a323924208-4067267943837684.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Companies with corporate reserves in Solana. Source: <a href=\"https:\/\/www.coingecko.com\/en\/treasuries\/solana\">CoinGecko<\/a>.\u00a0<\/figcaption><\/figure>\n<p>Novogratz also pointed to a shifting regulatory landscape. <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> head Paul Atkins recently <a href=\"https:\/\/forklog.com\/en\/news\/paul-atkins-confirms-secs-shift-from-enforcement-to-guidance-for-crypto-firms\">said<\/a> the agency is working to modernise rules to bring traditional markets onto blockchains. He <a href=\"https:\/\/forklog.com\/en\/news\/sec-chair-suggests-limited-tokens-as-securities\">affirmed<\/a> that \u201cmost crypto tokens are not securities\u201d and fall outside the regulator\u2019s remit.<\/p>\n<p>The Galaxy CEO called this a \u201cradical departure\u201d from prior policy and a sign of quickening institutional adoption of digital assets.<\/p>\n<p>Meanwhile Nasdaq <a href=\"https:\/\/www.nasdaq.com\/newsroom\/qa-nasdaqs-new-proposal-tokenized-securities\">filed<\/a> with the SEC for permission to trade tokenised stocks and ETFs. If approved, blockchain settlement could go live by the third quarter of 2026. Novogratz stressed that Solana is well suited to financial markets, citing the network\u2019s speed and throughput.\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe are seeing a key turn: from talk to real infrastructure. It is this shift that will draw significant capital into the industry,\u201d he added.<\/p>\n<\/blockquote>\n<p>Following his remarks, Galaxy bought an additional 2.31 million SOL worth $536m, according to Arkham.\u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"356\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-d80850276c2c1638-4067297131056252-1024x356.png\" alt=\"image\" class=\"wp-image-265701\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-d80850276c2c1638-4067297131056252-1024x356.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-d80850276c2c1638-4067297131056252-300x104.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-d80850276c2c1638-4067297131056252-768x267.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-d80850276c2c1638-4067297131056252-1536x534.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-d80850276c2c1638-4067297131056252.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Galaxy\u2019s portfolio. Source: <a href=\"https:\/\/intel.arkm.com\/explorer\/entity\/galaxy-digital\">Arkham<\/a>.\u00a0<\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\">Another Solana bull<\/h2>\n<p>On September 9th, Bitwise CIO Matt Hougan <a href=\"https:\/\/experts.bitwiseinvestments.com\/cio-memos\/solana-season\">spoke<\/a> of \u201cSolana season\u201d. He forecast an \u201cimpressive rally\u201d by year-end. Drivers include inflows via exchange-traded products and SOL accumulation by corporate treasuries.\u00a0<\/p>\n<p>He noted that in a similar scenario bitcoin previously rose from $40,000 to $125,000, coinciding with the approval of spot ETFs on the first cryptocurrency.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cIt is no surprise the recipe works. It is a classic. When demand exceeds supply, prices usually rise,\u201d Hougan noted.\u00a0<\/p>\n<\/blockquote>\n<p>He believes the same setup is forming for Solana. Several companies have filed for exchange-traded funds on the altcoin. A decision from the SEC is expected on October 10th \u2014 which could clear the way for launches as early as the fourth quarter.\u00a0<\/p>\n<p>In July REX\u2011Osprey already <a href=\"https:\/\/forklog.com\/en\/news\/solana-staking-etf-debuts-with-12-million-inflow\">launched<\/a> a Solana ETF with staking. So far, the fund has attracted only $195m.\u00a0<\/p>\n<h2 class=\"wp-block-heading\">FTX withdrew another tranche of SOL from staking\u00a0<\/h2>\n<p>According to EmberCN, on September 12th addresses linked to FTX and Alameda Research withdrew about 192,000 SOL from staking, worth roughly $44.9m. The funds were sent to Coinbase and Binance.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"zh\" dir=\"ltr\">\u53c8\u5230 FTX\/Alameda \u6bcf\u6708\u5341\u6765\u53f7\u7684 SOL \u56fa\u5b9a\u8f6c\u51fa\u65f6\u95f4\u4e86\u3002<\/p>\n<p>\u4ed6\u4eec\u5728 7 \u5c0f\u65f6\u524d\u4ece\u8d28\u62bc\u91cc\u8d4e\u56de\u4e86 19.2 \u4e07\u679a <a href=\"https:\/\/twitter.com\/search?q=%24SOL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SOL<\/a> ($4356 \u4e07)\uff0c\u5e94\u8be5\u4f1a\u548c\u4ee5\u524d\u4e00\u6837\u5728\u4eca\u5929\u665a\u4e9b\u65f6\u95f4\u5206\u53d1\u8f6c\u79fb\u7ed9\u591a\u4e2a\u5730\u5740\u3002\u7136\u540e\u8fd9\u4e9b\u6536\u5230 SOL \u7684\u591a\u6570\u5730\u5740\u540e\u7eed\u4f1a\u628a SOL \u8f6c\u8fdb Coinbase \u6216 Binance\u3002<\/p>\n<p>FTX\/Alameda \u8d28\u62bc\u5730\u5740\u4ece 2023 \u5e74 11\u2026 <a href=\"https:\/\/t.co\/TjALHssMsA\">pic.twitter.com\/TjALHssMsA<\/a><\/p>\n<p>\u2014 \u4f59\u70ec (@EmberCN) <a href=\"https:\/\/twitter.com\/EmberCN\/status\/1966301625016004833?ref_src=twsrc%5Etfw\">September 12, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In total since November 2023 the firms have withdrawn 8.98 million SOL, about $1.2bn at an average price of $134 per token. A substantial portion remains locked. According to <a href=\"https:\/\/solscan.io\/account\/H4yiPhdSsmSMJTznXzmZvdqWuhxDRzzkoQMEWXZ6agFZ\">Solscan<\/a>, 4.18 million SOL worth $977m are still staked.\u00a0<\/p>\n<p>Over the past 24 hours Solana\u2019s price has risen by 5.8%. At the time of writing the asset trades at $238.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"601\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-39c40db4bcc7e95b-4067328083664231-1024x601.png\" alt=\"image\" class=\"wp-image-265702\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-39c40db4bcc7e95b-4067328083664231-1024x601.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-39c40db4bcc7e95b-4067328083664231-300x176.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-39c40db4bcc7e95b-4067328083664231-768x450.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-39c40db4bcc7e95b-4067328083664231-1536x901.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-39c40db4bcc7e95b-4067328083664231.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Hourly chart of SOL\/USDT on Binance. Source: <a href=\"https:\/\/ru.tradingview.com\/chart\/?symbol=BINANCE%3ASOLUSDT\">TradingView<\/a>.\u00a0<\/figcaption><\/figure>\n<p>Earlier, market participants <a href=\"https:\/\/forklog.com\/en\/news\/solana-tipped-for-300-as-tvl-hits-a-record\">predicted<\/a> Solana would rise to $300. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto has entered \u201cSolana season\u201d thanks to momentum and regulatory signals, said Mike Novogratz.<\/p>\n","protected":false},"author":1,"featured_media":83902,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Following his comments, Galaxy added 2.31 million SOL","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[770,1303,1159],"class_list":["post-83901","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-galaxy-digital","tag-mike-novogratz","tag-solana-sol"],"aioseo_notices":[],"amp_enabled":true,"views":"337","promo_type":"1","layout_type":"1","short_excerpt":"Following his comments, Galaxy added 2.31 million SOL","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83901","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=83901"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83901\/revisions"}],"predecessor-version":[{"id":83903,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83901\/revisions\/83903"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/83902"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=83901"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=83901"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=83901"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}