All news is rigorously fact-checked and reviewed by leading blockchain experts and seasoned industry insiders.
- With today’s SOL purchase, DeFi Development Corp. has taken its total SOL holdings to 1.83 million SOL as the treasury race heats up.
- SOL price has broken out of an Ascending Triangle pattern, with a projected target of $300, fueled by the recent Alpenglow upgrade proposal.
Solana (SOL) has defied the broader crypto market correction, surging over 2% today to $217, and outpacing top assets like Bitcoin (BTC), Ethereum (ETH). This comes as SOL treasury firm DeFi Development Corp purchased an additional 407,247 SOL, worth a massive $77 million.
SOL bulls have been holding the price above $200 for the past few days, which currently serves as a crucial support.
Solana Treasury Firm DeFi Development Takes Holdings to 1.8 Million SOL
Nasdaq-listed DeFi Development Corp. (Nasdaq: DFDV) has announced the acquisition of 407,247 Solana (SOL) tokens worth approximately $77 million. As a result, its total holdings of Solana Treasury now stand at 1,831,011 SOL tokens, worth a massive $371 million.
Today’s announcement comes as DeFi Development Corp. partnered with Solfare for wallet and card services, earlier this month, as reported by CNF.
The purchase was funded through a recent equity raise, leaving over $40 million in net proceeds available for additional SOL acquisitions and treasury operations. The move positions DFDV as a prominent public vehicle for Solana adoption, aiming to maximize exposure and enhance per-share value.
As per the data from Strategic SOL Reserves, public companies are increasingly adding Solana (SOL) to their corporate treasuries, with combined holdings reaching approximately 8.69 million SOL valued at $1.87 billion. The recent attraction for SOL treasury among corporate players comes amid the growing strength of the Solana ecosystem during Q2 2025.
Messari reports that Solana’s circulating market capitalization rose 29.8% quarter-over-quarter, reaching $82.8 billion by the end of June 2025. This growth kept SOL in the sixth spot among the largest cryptocurrencies, trailing Bitcoin (BTC), Ethereum (ETH), Tether (USDT), XRP, and Binance Coin (BNB).
In another latest development, top industry players – Galaxy Digital, Jump Crypto, and Multicoin Capital – joined hands earlier this week to plan for a massive $1 billion in SOL treasury. The plan involves acquiring a publicly listed company and transforming it into a digital asset treasury firm, with the deal expected to close in early September, as mentioned in our previous story.
SOL Price Eyes Rally to $300 And Beyond
Despite the broader crypto market volatility, SOL price has been showing strength, gaining nearly 18% over the past week, and is currently flirting with $215 levels. The Layer-1 altcoin is facing a crucial resistance at $218, crossing which will set the stage for the next leg of the rally.
Prominent cryptocurrency analyst Ali Martinez noted that the coin has broken out of an Ascending Triangle pattern, setting a projected target of $300—surpassing its previous all-time highs. The Ascending Triangle is a bullish continuation pattern defined by a flat resistance level paired with an upward-sloping trendline.
Solana $SOL breaks out of a triangle, targeting $300! pic.twitter.com/B8oJTPKdNm
— Ali (@ali_charts) August 28, 2025
With the voting for the Alpenglow upgrade underway, SOL is turning bullish among traders and investors. Anza, a Solana Labs spinoff, has proposed replacing the existing Proof of History and Tower BFT mechanisms with a verifiably fast protocol. The change will need approval from at least two-thirds of network validators to move forward.
