Solana-focused Canadian investment company Sol strategies bought 40,300 SOL between January 19 and January 31 for approximately $ 9.9 million at an average price of $ 246.53 per year. Token.

The Toronto-based company, which runs three mainnet Solana validators, said it now has 189,968 sun worth approx. $ 40.89 million purchased at an average price of C $ 256.21 per Sun or around US $ 178.39 per Token, according to a press release.

Last month, the company, which has submitted an application for list on NASDAQ, sold $ 2.5 million of convertible bonds to add an additional 6,564.57 solar at an average price of $ 265.65 per year. Token. Solana Price, at the time of writing, traded at $ 215 after losing more than 8.5% of its value over the past week in the midst of a wider cryptocurrency downturn.

Sun strategies, formerly known as Cypherpunk Holdings, are led by former Valkyrie Investments co -founder Leah Wald. It has acquired validators not only on Solana but also on Sui (Sui), Monad (Monad) and Arch (Arch). Validators treat transactions to help secure proof-of-stake blockchains by putting certain amounts of these network cryptocurrencies.

According to its site, SOL strategies also have 3,168 BTC worth $ 315,800 at the time of writing as it moved its investment strategy from accumulating BTC to SOL.

Read more: ‘It’s so early’: How Solana competes with Ethereum on institutional interest