#Solana财库公司崛起# The rise of the SOL treasury company does indeed have a positive impact on the SOL price movement, but whether it can initiate a new round of pump needs to be judged based on multiple factors.

favorable factors

Expected capital inflow: If the $1 billion treasury company being prepared by Wall Street giants such as Jump, Galaxy, and Multicoin is successfully established, it will bring a large amount of compliant capital inflow for SOL. The treasury model similar to Ethereum's "MicroStrategy" may attract more institutions and enterprises to participate, boosting market confidence.
Compliance Progress: The SOL spot ETF is expected to be approved in October. If approved, it will open up compliant funding channels and attract more passive allocation funds, similar to the impact of the Ethereum ETF on the market.
Ecosystem activity: The SOL chain's Meme coins, Launchpad, and other ecosystems continue to thrive, with high trading volume and user participation, providing fundamental support for the price.

Potential risks
Competitive pressure: The Ethereum mainnet and L2 networks continue to reduce fees, and the competition from emerging chains like BSC and Base may divert SOL developers and users.
Historical stability shadow: In 2024, SOL experienced a downtime incident. Although it has been fixed, institutional investors may still have concerns about this.
Macroeconomic Impact: If the global economic situation is unstable or regulatory policies tighten, it may suppress the overall performance of the cryptocurrency market and affect the rise of SOL.

Conclusion: The rise of SOL treasury companies is an important positive factor. If the spot ETF is approved and compliant RWA (real-world asset) applications are implemented, along with a continuously active on-chain ecosystem, SOL is expected to usher in a new round of pump. However, attention should be paid to the impact of macro environment, competitive landscape, and historical stability among other factors. Investors need to make cautious decisions based on their own risk tolerance.