NewGen Doubles Down on Solana with $30 Million SOL Staking Strategy

Kelvin Munene Murithi
June 2, 2025
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NewGen Doubles Down on Solana with $30 Million SOL Staking Strategy

Highlights

  • NewGenIvf commits $30M to Solana staking after its $1M Bitcoin move in Dec 2024.
  • Whale shift of 2.8M SOL to Binance cold wallet sparks short-term price jitters.
  • SOL tests $157–$169 resistance; failure could trigger drop to $122 support zone.

NewGenIvf Group Limited (NIVF), a fertility services provider in Asia, has announced a $30 million investment into Solana staking. This step follows its initial $1 million Bitcoin investment made in December 2024 and marks a major expansion of the company’s digital asset strategy.

The funding for this investment will come from two existing credit lines—$26 million from ATW and $100 million from White Lion. NewGen’s management stated this move reflects growing confidence in blockchain assets and decentralized finance. The company also plans to set up a separate unit to manage digital asset operations.

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NewGen $30 Million SOL Staking Strategy

NewGen is using this investment to build a broader footprint in digital assets confirming the $30 million will be used for staking Solana (SOL). CEO Siu Wing Fung Alfred commented,

“This investment represents a natural evolution of our digital asset strategy and positions us strategically within the burgeoning digital assets space.” He added that staking SOL will create value for shareholders and diversify the company’s investment portfolio.

The plan includes forming a subsidiary to handle all blockchain-related activities, allowing NewGen to focus operationally and expand strategically in this area. This structure aims to improve decision-making and offer flexibility in the fast-changing digital asset market.

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Solana’s Role in the Strategy

Solana is now one of the top blockchain platforms because of its fast transactions, scalability and increasing range of practical uses. By staking their coins, investors can support the blockchain’s safety and structure and get rewards in return.

NewGen is following in the steps of several other public companies that have already adopted Solana. Similar strategies were adopted by other firms including Upexi ($100 million), Janover ($42 million) and Classover Holdings (up to $500 million) which involve Solana’s tokens and staking reserves.

Canada’s SOL Strategies Inc. has also filed a $1B shelf prospectus to boost Solana-related projects. This company actively works with validators, tokenization and staking, allowing for a greater involvement in blockchain processes.

Concurrently, there has been consistent strength in Solana’s market presence. As of press time, Solana (SOL) was priced at $152.59 with a market cap of $79.71 billion. However, the token has dropped 18% in the past ten days, raising concerns among traders.

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Solana Whale Transfer Raises Price Concerns

A large holder recently transferred 2.8 million SOL, worth $441 million, to Binance. The tokens came from a wallet that had been funded by Binance three years ago which has led to speculation about possible sell-offs.

The whale moved the tokens to a Binance cold wallet, not directly to the exchange, but the event still caused short-term price uncertainty. Analysts suggest that cold wallet transfers may not mean an immediate sale, but the volume was enough to influence sentiment. 

However, according to crypto analysts Morecryptoon, despite these developments, technical indicators offer a bearish outlook. The 1-hour SOL/USD chart suggests that the token is in a corrective phase. According to the analysts, using the Elliott Wave analysis, Wave 1 appears to have completed around the $153 level, and the price is now forming Wave 2, typically a temporary counter-trend move.

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The current corrective bounce is testing Fibonacci retracement levels, including 23.6% at $157.09 and 38.2% at $161.95. Resistance extends into the $161.95–$169.76 zone, with additional resistance near $173.26. A move above $170 could invalidate the bearish pattern and suggest further upward momentum.

However, if the Solana price fails to hold above these resistance levels, the chart indicates a possible continuation into Wave 3, which could push prices lower. Bearish targets based on Fibonacci extensions range from $143.51 to $122.77 with the strongest support zone projected between $132 and $122.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Kelvin Munene is a crypto and finance journalist with over 5 years of experience, offering in-depth market analysis and expert commentary . With a Bachelor's degree in Journalism and Actuarial Science from Mount Kenya University, Kelvin is known for his meticulous research and strong writing skills, particularly in cryptocurrency, blockchain, and financial markets. His work has been featured across top industry publications such as Coingape, Cryptobasic, MetaNews, Cryptotimes, Coinedition, TheCoinrepublic, Cryptotale, and Analytics Insight among others, where he consistently provides timely updates and insightful content. Kelvin’s focus lies in uncovering emerging trends in the crypto space, delivering factual and data-driven analyses that help readers make informed decisions. His expertise extends across market cycles, technological innovations, and regulatory shifts that shape the crypto landscape. Beyond his professional achievements, Kelvin has a passion for chess, traveling, and exploring new adventures.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.