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MemeStrategy Buys 2,440 SOL as It Begins Building Solana Reserves
- MemeStrategy has acquired 2,440 Solana (SOL) tokens by investing HKD2.9 million from the open market.
- The acquisition was done through the licensed trading platform OSL Group in Hong Kong.
- MemeStrategy plans to stake the tokens to support the Solana Proof-of-Stake network.
- The investment is part of the company’s strategic reserve plan for long-term crypto reserves and entry into Solana's ecosystem.
- MemeStrategy's shares surged over 28% on the Hong Kong Stock Exchange post announcement, indicating positive market response.
- The company intends to support Solana's validation procedures, accumulate staking returns, and engage in high-growth blockchain activities.
- MemeStrategy's broader goals include expansion into blockchain, AI, real-world asset tokenization, and involvement in the Web3 space.
- The SOL price increased by 8% to $157 post-MemeStrategy's investment, reaching a market cap of $82.4 billion.
- MemeStrategy's move aligns with the growing institutional interest in Solana and the rise of staking-linked ETF models.
- The surge in SOL's trading volume and open interest signals strong investor confidence and increasing institutional involvement in Solana.
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