Fitell Invests $1.5 million in PUMP tokens, Expanding Solana Holdings
Fitell Corporation, a company based in Taren Point, Australia, has made a important move in the crypto space. The firm recently purchased 216.8 million PUMP tokens for $1.5 million. This action comes just a month after Fitell secured a $100 million facility to invest in Solana-based assets.
CEO Sam Lu sees this as a strategic step. “We are expanding our role in Solana’s growth while diversifying our digital assets,” he said. The PUMP token is central to the Pump.fun launchpad, a platform for creating memecoins on the Solana blockchain. It currently trades at $0.007 and has seen a 92% increase in the past 30 days.
Fitell’s shift from selling gym equipment to focusing on Solana is notable. The company’s new strategy includes deploying Solana assets in various on-chain products to generate high yields. Fitell plans to rebrand as “Solana Australia Corporation” and aims for a dual listing on the ASX.
This move positions Fitell as a key player in the Solana ecosystem,offering public market investors exposure to the growing blockchain.
