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 said 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 mean SOL value of about $151.70, is a part of MemeStrategy’s plan to develop its presence within the Solana ecosystem, together with by collaborating in Solana’s proof-of-stake architecture to contribute to community safety whereas earning 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 solutions.
“This funding aligns carefully with our deal with AI, blockchain, validation applied sciences, and next-generation tech improvement, marking a big 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 data 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
Corporations seeking to put money into Solana could 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 may very well be well-suited for tokenized securities and that corporations might assist community safety whereas incomes rewards.
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“With elevated liquidity making it simpler to lift capital, Solana treasury corporations can observe the ‘Saylor playbook’ and lift capital at a premium to [Net Asset Value], buy SOL, and improve SOL-per-share,” Shinske stated.
“Combining staking with treasury operations ought to lead to Solana treasury corporations rising SOL/share sooner than BTC treasury corporations rising BTC/share, all else equal.”
A chart from Bloomberg reveals that Solana treasury corporations Upexi and DeFi Development Corp have massively outpaced SOL since April 16, growing 306% and 207% whereas SOL has elevated 19% over that very same time-frame.
Sol Methods, one other Solana treasury agency, can also be up 33%.
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