Torrent Capital Initiates a Position in Solana Cryptocurrency

January 06, 2025 4:28 PM EST | Source: Torrent Capital Ltd.

Halifax, Nova Scotia–(Newsfile Corp. – January 6, 2025) – Torrent Capital Ltd., (TSXV: TORR), (“Torrent”) announces it has created a cryptocurrency investment portfolio and acquired 2,000 tokens of Solana (SOL) cryptocurrency. The Solana tokens have been staked and are generating yield.

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The cryptocurrency market has experienced remarkable growth over the past decade, evolving from a niche asset class to a globally recognized financial ecosystem. The total market capitalization of cryptocurrencies surged from under $1 billion in 2013 to around $3.6 trillion in 2024. Torrent forecasts that the adoption of decentralized applications and technologies will further accelerate in 2025 and plans to gain exposure by investing in leading crypto platforms and applications.

Decentralized blockchain platforms such as Solana enable developers to create applications that re-distribute control, authority, and decision-making away from central authorities into the hands of the network participants, creating a new and secure form of openness and transparency. Evan Dawe, Equity Analyst at Torrent Capital, commented, “These innovative blockchain based platforms have the potential to disrupt the current monetary system and reshape the future of the economy.”

Since its beginning, the crypto sector faced intense scrutiny from centralized authorities including governments, banks, and securities regulators, that attempted to curb its adoption through restrictive regulations and bans. However, the distributed nature of cryptocurrencies inherently resisted these attempts since they operate on a global network of nodes that continued to operate regardless of efforts to discourage adoption.

Cryptocurrencies like Bitcoin and Ethereum remain dominant, while emerging networks such as Solana have recently gained market share due to their improved scalability and lower transaction costs.

Why Solana?
Torrent believes that a scalable layer-1 blockchain platform is required to enable mainstream adoption of blockchain applications and decentralization. Although Ethereum has built a large ecosystem of developers and decentralized applications (“dApps”), it incurs high transaction fees during peak times and has limited transaction capacity, measured in transactions per second. Ethereum currently relies on layer-2 solutions to attempt to resolve these problems, which can present challenges. “We are confident that Solana has potential to capture market share from Ethereum as a scalable layer-1 blockchain ecosystem,” Evan commented.

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High Throughput & Low Fees: the Solana blockchain can process over 65,000 transactions per second with low transaction costs, ideal for high-volume applications.

Fastest Growing Ecosystem: In 2024, Solana onboarded more new developers than any other blockchain ecosystem globally, overtaking Ethereum.

Strong Adoption: Major banks, credit card companies, and other financial institutions are building on the Solana blockchain, in addition to other innovative projects.

Potential for Solana ETFs in 2025: Although there are currently no Solana ETFs available, asset managers such as Grayscale and Vaneck have recently submitted Solana ETF applications which are expected to be reviewed by the regulatory authorities in 2025, providing a potentially significant catalyst.

Why Now?
The incoming US Administration has indicated that it will change the government’s current stance on cryptocurrencies to welcome and encourage its adoption. This shift could encourage strong growth and innovation in the sector by reducing legal hurdles that have previously inhibited crypto projects.

Further, while crypto has been favoured among retail investors in recent years, institutional adoption is now beginning. Financial giants such as BlackRock Inc. and Fidelity Investments, initially skeptical, shifted their stance in 2024 and now manage successful ETFs focused on Bitcoin and Ethereum. These new ETFs have accumulated over $100 billion in assets under management since their launch in early 2024 and have been supportive of crypto prices.

Torrent’s strategy involves managing its cryptocurrency portfolio to maximize rewards and passive income while participating in select blockchain operating networks.

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About Torrent Capital Ltd.

Torrent Capital is a publicly traded investment issuer that invests in private and publicly traded companies. The company invests in companies that are due to experience accelerated growth or are trading at a discount to their intrinsic value. Torrent offers investors the potential to earn above-market returns while providing transparency, daily liquidity and a modest fee profile compared with competing investment products.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This press release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Torrent disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. The reader is referred the Company’s annual financial reporting for a discussion of risks and uncertainties.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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