Solana’s on-chain strength received a significant boost on Thursday as Florida-based DeFi Development Corp (DFDV) revealed it has expanded its SOL treasury, acquiring an additional 17,760 tokens for roughly $2.72 million. The average purchase price came to $153.10 per token, underscoring the firm’s long-term strategy of growing both its SOL reserves and staking rewards.

Following this latest acquisition, DeFi Dev Corp’s total SOL holdings now stand at 640,585 tokens and equivalents, valued at approximately $98.1 million. With the company reporting 14,740,779 shares outstanding, this translates to a SOL-per-share (SPS) figure of 0.042, equating to about $6.65 per share based on current market prices.

The newly acquired SOL will be staked across various validators, including DeFi Dev Corp’s own infrastructure on the Solana blockchain. This staking strategy not only generates native yield through rewards and validator fees but also contributes to the network’s decentralization and operational stability.

DeFi Dev Corp has carved out a niche as the first publicly traded company to make Solana the cornerstone of its treasury approach. Beyond accumulating and staking SOL, the firm actively engages in decentralized finance (DeFi) opportunities and broader ecosystem involvement. Its treasury model offers shareholders direct economic exposure to SOL while supporting the ongoing development of Solana’s application layer.

As of the latest data, SOL was trading around $150.75, down 1.6% over the past 24 hours, according to CoinDesk Research’s technical analysis. Meanwhile, the broader crypto market, tracked by the CoinDesk 20 Index (CD20), posted a modest gain of 0.13% during the same period.

Technical Analysis Insights

• Between 2 July at 17:00 and 3 July at 16:00 UTC, SOL traded within a range of $156.28 to $150.04, reflecting 4.15% volatility.
• Strong resistance formed near $156 in early trading, with heightened volume sparking a price reversal.
• During the midday session (12:00–15:00 UTC), SOL slipped below key support at $152, eventually settling around $150.44.
• In the final hour of trading (15:16–16:15 UTC), SOL fell 0.63%, dropping from $151.85 to $150.89.
• A notable selloff occurred at 15:35 UTC, sending the price down to $150.44 on significant volume of 213,600 tokens.
• Buyers stepped in around $150.35, helping stabilize the price and spur a modest rebound in the closing minutes.