TLDR
- DeFi Development Corp purchased 196,141 SOL tokens at $202.76, bringing total holdings to 2.02 million SOL worth $409 million
- Galaxy tokenized SEC-registered shares on Solana network, marking first public company to use SOL for this purpose
- SOL trades at $203.90 with neutral RSI at 53.58 and potential for $220-$230 breakout targets
- Technical indicators show mixed signals with bearish MACD but possible bullish crossover ahead
- Network adoption grows as tokenization use cases expand across corporate sector
Solana continues to attract institutional attention as corporate treasury strategies drive significant token accumulation. The network has seen major developments in both corporate adoption and real-world asset tokenization.
DeFi Development Corp announced a substantial purchase of 196,141 SOL tokens on Thursday. The Nasdaq-listed company paid an average price of $202.76 per token for this acquisition.
This purchase brings the company’s total SOL holdings to 2,027,817 tokens. At current market prices, this treasury represents approximately $409 million in value.
The newly acquired tokens will be held long-term and staked across multiple validators. DeFi Development operates its own Solana validators to generate native staking yield.
Network Tokenization Milestone
Galaxy made history by becoming the first public company to tokenize SEC-registered shares on Solana. The tokenization occurred through the Superstate platform, marking a new milestone for the network.
This development demonstrates growing real-world adoption of Solana for institutional use cases. The network continues to attract companies seeking blockchain solutions for asset tokenization.
SOL currently trades at $203.90 with a market capitalization of $111.76 billion. Daily trading volume reached $13.07 billion over the past 24 hours.
The token has declined 3.57% in the last day despite recent institutional buying activity. Technical analysis suggests potential for upward movement if current support levels hold.
DeFi Development has 25,573,702 shares outstanding, creating a SOL per share ratio of 0.0793. The company expects this metric to remain above 0.0675 even after warrant exercises from recent financing.
Solana Price Prediction
Technical indicators present mixed signals for SOL’s near-term direction. The Relative Strength Index sits at 53.58, placing the token in neutral territory.
Crypto analyst BitGuru noted that buyers returned after a recent sell-off. The price has moved back toward the $210 region following institutional accumulation.
If current momentum continues, SOL could reach targets between $220 and $230. This represents potential upside of 8-13% from current levels.
The MACD indicator currently shows bearish signals with the MACD line below the signal line. However, analysts watch for a potential bullish crossover that could signal trend reversal.
Growing tokenization adoption and corporate treasury strategies support long-term bullish sentiment for Solana. The network’s validator infrastructure continues attracting institutional participation.
