News View Non-AMP

DeFi Dev Corp Acquires Additional 47.2k Solana: What Next for SOL Price?

Published by
Steve Muchoki

DeFi Development Corp. (NASDAQ: DFDV), a company focused on building a Solana treasury strategy, has announced an additional acquisition of SOL. The U.S.-based company acquired an additional 47,272 SOL coins for about $7.03 million.

As a result, DeFi Development Corp now holds a total of 690,420 SOL coins, currently worth around $102.7 million. The company increased its SOL holdings by more than 64 percent in the past two months, which will be staked to ensure a steady yield income. 

Solana Network Gains More Institutional Investors’ Support

The Solana network has attracted more crypto investors in the recent past, led by institutional investors. As Coinpedia has highlighted, the U.S. SEC has increased engagement with the fund managers seeking to offer spot Solana ETFs, thus signaling potential approval ahead. 

As a result of the rising demand from retail and institutional investors, on-chain data analysis shows that the Solana network has recorded more than 14.63 million active addresses in the past 24 hours.

What’s Next for SOL Price?

Solana price has established a robust support level in the past year around $125. Although the SOL price in the weekly timeframe has been forming a potential reversal pattern, the shorter timeframe suggests potential bullish sentiment.

According to crypto analyst Ali Martinez, SOL price must hold above the support level around $149 to invalidate possible capitulation in the near term. In the four-hour timeframe, the SOL price has been forming a symmetrical triangular pattern after breaking out of a falling logarithmic trend.

A consistent rally above the resistance level around $157 will trigger a fresh bullish rally towards the next major liquidity level around $200.

Steve Muchoki

Steve is a crypto news writer with a passion for decoding market moves. He blends breaking blockchain news with sharp technical analysis and bold price predictions. From Bitcoin rallies to altcoin breakouts, Steve breaks it all down with clarity and insight. Whether you're a trader or just curious, his analysis keeps you ahead of the curve.

Recent Posts

Eigen Labs Sends Home 25% of Its Employees to Focus on a16z-backed EigenCloud

Eigen Labs, the blockchain company behind the EigenLayer (EIGEN) protocol that pioneered the crypto restaking…

July 9, 2025

Are You Selling Your Bitcoin to Institutions? Top Reasons to Reconsider and Hold BTC

Over the past year, there’s been a massive shift in Bitcoin’s ownership whereinthe institutional players…

July 9, 2025

ReserveOne to Launch $1 Billion Bitcoin-Dominated Digital Asset Reserve

ReserveOne, a newly formed firm inspired by the proposed U.S. strategic Bitcoin Reserve, has announced…

July 8, 2025

Cronos (CRO) Price Explodes After Truth Social Files Crypto Blue-Chip ETF—Can it Secure $0.1 Today?

The recent filing of the Truth Social Crypto Blue-Chip ETF has sparked renewed interest in…

July 8, 2025

A Brewing War? How Jupiter, BullX, and Axiom are Grappling with AI‑Powered “Vibe” Traders

What happens when retail traders get smart? The house fights back. In this context, one…

July 8, 2025

These 4 Coins Will Grow $100 into $10,000 Faster Than Shiba Inu (SHIB) Did, All Priced Below $0.50

In 2021, Shiba Inu (SHIB) shocked the world by transforming small investments into substantial wealth.…

July 8, 2025