Galaxy CEO: The Crypto Market is Entering the "Solana Season"

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The cryptocurrency market is ushering in a new turning point. With the dual drivers of accelerated institutional capital inflows and significant shifts in regulatory policies, the “altcoin” Solana is receiving increasing market attention.

On September 12, according to media reports, Mike Novogratz, CEO of Galaxy Digital, stated that the cryptocurrency market is entering what he calls the "Solana Season," with market momentum and regulatory signals both tilting towards this blockchain. SOL’s market capitalization surpassed $126 billion, reaching a new record high, and has now exceeded BNB to become the fifth largest cryptocurrency by market capitalization.

On September 11 local time, Novogratz said in an interview with CNBC that asset management companies focusing on altcoins are injecting new vitality and capital into this sector.

He specifically mentioned the recent $1.65 billion financing completed by Forward Industries, which was led by Galaxy Digital, Jump Crypto, and Multicoin Capital, with the aim of building the world’s largest Solana asset reserve strategy.

Meanwhile, the regulatory environment is undergoing significant change. Paul Atkins, chairman of the U.S. Securities and Exchange Commission, recently stated that the agency is working to "modernize securities rules and regulations so that our markets can shift to on-chain operations." Novogratz described this stance as a "fundamental shift" from previous policies and sees it as a signal of accelerated institutional adoption.

These developments indicate that Solana is receiving dual support from regulatory and capital markets, laying the foundation for a more advantageous position in blockchain competition.

Large-scale inflow of institutional capital into the Solana ecosystem

According to reports, Forward Industries’ $1.65 billion financing represents a significant expression of institutional confidence in the Solana ecosystem.

This capital will be used to build the world’s largest Solana reserve strategy, demonstrating professional investment institutions’ recognition of the long-term value of this blockchain platform.

Novogratz pointed out that crypto asset management companies focused on altcoins have become new drivers in the market. These companies not only bring capital, but more importantly, inject new vitality and professional operational models into the entire crypto ecosystem.

Bitwise Chief Investment Officer Matt Hougan also expressed a similar view, predicting that the “Solana season” is beginning.

Hougan believes that the anticipated approval of ETFs, subsequent capital inflows, and corporate treasury purchases will drive a rally similar to what has been seen in Bitcoin and Ethereum.

Significant shift in regulatory attitudes

Recently, U.S. SEC Chairman Atkins has issued a series of statements supporting cryptocurrencies, including that entrepreneurs and investors should be able to raise funds on-chain "without facing endless legal uncertainty."

He also reiterated that "most crypto tokens are not securities" and therefore not under SEC regulation. Novogratz believes these remarks "are pushing things in the right direction."

Additionally, Nasdaq has submitted a rule change application to the SEC seeking approval to allow tokenized versions of listed stocks and ETFs to trade on the same order books as traditional trading products. If approved, this change could enable blockchain-based settlement systems as early as the third quarter of 2026.

Novogratz stated that blockchain is now fast, secure, reliable, and trustworthy, and with the regulatory framework in place, it is ready for Wall Street adoption.

Risk Warning and DisclaimerThe market entails risks, and investment should be approached with caution. This article does not constitute personal investment advice, nor does it take into account individual users’ specific investment objectives, financial situation, or needs. Users should consider whether any opinions, views, or conclusions in this article are suitable for their particular situation. Investment according to this is at your own risk. ```