As corporations like DeFi Dev Corp. and Sol Strategies ramp up their Solana investments, SOL’s bullish fundamentals are gaining strength, eyeing $500+.
By Parth Dubey
Editor Julia Sakovich
Updated
3 mins read
DeFi Development Corp., a publicly traded firm now rebranded from its real estate origins, recently adopted liquid staking token (LST) technology via dfdvSOL, developed by Sanctum, allowing it to stake SOL while retaining liquidity.
The move marks the first time a public company has owned LSTs on the Solana network, solidifying DeFi Dev Corp.’s role as a frontrunner in crypto-native treasury management.
The firm, now led by former Kraken executives, has raised $24 million to fund further Solana accumulation. Its latest May 15 purchase brought its total SOL holdings to over 609,000 coins, currently worth more than $105 million.
But DeFi Dev Corp. is not alone. Canada-listed investment firm Sol Strategies has filed a preliminary base shelf prospectus to raise up to $1 billion CAD (~$730 million USD) to further invest in Solana.
Formerly known as Cypherpunk Holdings, the firm has already spent $20 million from a $500 million convertible note facility to purchase 122,524 SOL. CEO Leah Wald emphasized that the fund seeks flexibility to seize future opportunities in Solana’s fast-evolving landscape.
Solana’s legitimacy has surged following a major partnership between UK blockchain developer R3 and the Solana Foundation. According to Financial Times, the Foundation’s President Lily Liu is even joining R3’s board.
R3’s enterprise blockchain, Corda, which already handles $10 billion in tokenized assets and counts HSBC, Bank of America, and the Monetary Authority of Singapore among its clients, will now link with Solana to speed up transactions and increase flexibility.
While institutions can still keep assets on private ledgers, they now have the option to use Solana’s public blockchain, marking a watershed moment for adoption.
According to TradingView analyst MasterAnanda, SOL price chart is forming a classic cup and handle pattern, often a precursor to major breakouts. The analysis suggests a breakout above resistance could propel SOL to $400, representing a 140% gain from current levels.
Solana Cup-and-Handle Pattern | Source: MasterAnanda
But with institutional demand heating up and key infrastructure deals accelerating, some are beginning to whisper what once seemed unthinkable — $500+ this cycle.
While corporates focus on Solana, Solaxy ($SOLX), a cutting-edge Layer 2 blockchain solution designed to address the most pressing limitations of the Solana network, has attracted retail attention with almost $42 million raised in the ongoing presale.
Solaxy addresses Solana’s network congestion, scalability constraints, and unreliable transactions. While Solana is recognized for its high throughput and speed, it often struggles under heavy traffic, leading to failed transactions.
Solaxy aims to unlock Solana’s full potential by leveraging rollup technology, enhancing transaction speed, scalability, and reliability while maintaining the core security features of Solana’s Layer 1.
Further, Solaxy processes transactions off-chain and bundles them into optimized batches before settling them on-chain. This reduces the load on Solana’s mainnet, alleviating congestion and improving efficiency.
With 18 days left until the next price increase, $SOLX can be purchased at the current price of $0.001738 per coin. There is a staking program for early holders and purchasers as well with 96% per annum in rewards.
Solaxy Presale Details:
Solaxy enables Solana to better handle peak usage, support large-scale dApp deployment, and sustain high transaction reliability without compromising on performance or security.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
