MemeStrategy shares soared by 28.5% in Hong Kong after it was the first company to publicly list in the city to buy Solana. It bought 2,440 coins, and pledged to support Solana’s ecosystem.
MemeStrategy said In a Monday statement, it said that the company had purchased 2,440 Solanas (SOL(approximately 2.9 million Hong Kong Dollars ($368,820), through OSL Group. OSL Group is a licensed crypto asset platform by Hong Kong Securities and Futures Commission.
MemeStrategy is committed to Solana for the long-term
MemeStrategy plans to increase its presence within the Solana eco-system, and participate in Solana’s ecosystem. proof-of-stake architecture Contributing to Network Security earning staking rewards.
MemeStrategy is Asia’s largest publicly listed digital assets venture. Its board has recognized Solana’s potential for real-world asset tokenization. AI-driven Web3 solutions.
“This investment aligns closely with our focus on AI, blockchain, validation technologies, and next-generation tech development, marking a significant step forward in MemeStrategy’s expansion into digital assets and the Web3 ecosystem.”
MemeStrategy stock rises on Solana’s purchase
Google Finance reports that MemeStrategy shares (2440.HK), which rose to $2.57 on the Hong Kong Stock Exchange Monday, have since increased to $2.70 at early trading on Tuesday. data shows.
MemeStrategy now has a market capitalization of $652.55 millions Hong Kong dollars (approximately $83.1 million).
MemeStrategy, managed by 9GAG – a meme site with over 200,000,000 users – is using its expertise in social media, Web3, and culture to invest strategically in blockchain, AI and culture.
Cantor-Fitzgerald praises Solana
Cantor-Fitzgerald analyst writes in recent notes that companies looking to invest may be able to benefit from the increased usage of Solana in the financial sector. seen Bloomberg.
Thomas Shinske of Cantor said that Solana’s network, which is high-speed and low-cost, could well be suited to tokenized securities Companies can earn money for providing network security.
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“With increased liquidity making it easier to raise capital, Solana treasury companies can follow the ‘Saylor playbook’ and raise capital at a premium to [Net Asset Value], purchase SOL, and increase SOL-per-share,” Shinske said.
“Combining staking with treasury operations should result in Solana treasury companies growing SOL/share faster than BTC treasury companies growing BTC/share, all else equal.”
Bloomberg has published a chart showing that Solana’s treasury companies Upexi DeFi Development Corp SOL is lagging behind in terms of growth, with SOL increasing by 19% since the same date.
Sol Strategies is another Solana Treasury firm that has also seen a 33% increase.
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Source: cointelegraph.com
