In a significant market update, Galaxy Digital CEO Mike Novogratz has declared that the crypto market is entering "Solana season." Speaking on CNBC, Novogratz highlighted a powerful combination of market momentum and regulatory signals that are aligning in favor of the <a href="https://www.cryptoknowmics.com/news/solana-price-poised-for-potential-30-rally/">Solana</a> blockchain. He pointed to a recent $1.65 billion fundraise by Forward Industries, led by Galaxy Digital, Jump Crypto, and Multicoin Capital, aimed at building the world's largest Solana treasury strategy. According to Novogratz, this influx of capital from altcoin-focused treasury firms is bringing new energy and money into the space.
<h2>Regulatory Framework and Institutional Adoption</h2>
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Novogratz also emphasized a crucial shift in the regulatory landscape. He cited recent comments from U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins, who stated the agency is working to "modernize the securities rules and regulations to enable our markets to move onchain." Novogratz described this as a "radical departure" from past policy, viewing it as a clear sign that institutional adoption is set to accelerate. He singled out Solana as a blockchain "tailor-made" for financial markets due to its speed and high transaction capacity.
<h2>Bitcoin's Role in a Multi-Chain Future</h2>
While bullish on Solana, Novogratz noted that Bitcoin has been consolidating as capital rotates into other ecosystems. He anticipates a rebound for Bitcoin toward the end of the year, coinciding with expected interest rate cuts by the Federal Reserve. Novogratz described Bitcoin as "digital gold" and a store of value, stating, "Bitcoin is going nowhere but up over time." He envisions a future with a multi-chain ecosystem where multiple blockchains, like Solana and Ethereum, coexist and are connected by bridges as applications mature. He stressed that the market is moving "from narrative to plumbing," with real capital now flowing into the space.

Novogratz Declares "Solana Season" Amidst Major Market Shifts

Galaxy Digital CEO Mike Novogratz says the crypto market is entering "Solana season," fueled by institutional adoption and a favorable regulatory climate.

Novogratz Declares "Solana Season" Amidst Major Market Shifts

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