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- DeFi Dev has increased its Solana holdings to 999,999 tokens following a $19 million purchase in July.
- The partnership will promote adoption of Solana-based products, including staking and tokenized equity instruments, while integrating Solflare’s crypto-backed debit card for employee use.
DeFi Development Corp, a public-listed company accumulating Solana as a treasury asset, has recently joined hands with Solflare, which will be its official wallet and card service provider. The company has signed a letter of intent with Solrise Group, the team behind Solflare, to collaborate on expanding access to on-chain financial products.
Solana Treasury Firm Partners With Solflare
As part of this partnership, this Solana treasury firm DeFi Development corp. and Solflare will focus on promoting the adoption of Solana-based offerings, including staking services and tokenized equity instruments, as DeFi Dev continues to build out its crypto-centric strategy anchored around Solana.
Solflare currently serves over 4 million active users, and DeFi Development Corp. aims to leverage this network to drive adoption of its financial products, as reported by CNF earlier. The announcement also noted that the partnership will prioritize educational initiatives and awareness campaigns to expand the reach of DFDV.
Additionally, DeFi Dev will support Solflare by adopting its crypto-backed debit card as the official employee payment card. Speaking on the development, Parker White, chief operating officer and chief investment officer of DeFi Dev Corp. said:
“This partnership marks a pivotal step toward deepening our involvement in the rapidly evolving Solana ecosystem. “Working closely with Solflare will allow us to accelerate user onboarding, increase the visibility of our equity product, and leverage innovative co-marketing opportunities into current and future initiatives.”
The demand for Solana Treasury has been on the rise. Nasdaq-listed DeFi Development Corp. has brought its Solana (SOL) holdings close to the 1 million mark following a recent acquisition. In a disclosure dated July 21, the company announced it had purchased $19 million worth of SOL between July 14 and 20, bringing its total holdings to 999,999 tokens.
Will SOL Price Recover From Here?
Solana’s native cryptocurrency SOL has faced strong selling pressure, correcting an additional 12% over the past week, and is currently trading at $164. Following the rejection at $200, SOL has corrected more than 18% in the latest crypto market pullback, as mentioned in our previous report.
Crypto analyst Marty Party has pointed out that Solana (SOL) has undergone a precise 50% pullback from its recent rally, retracing from the June 22 low to the July 22 high. According to the analyst, the retracement level at $164, presents a potential buying opportunity.
“Crypto is highly manipulated. There are no coincidences,” Marty noted, implying that the price action was deliberate. He added that $164 may serve as a key support level, encouraging traders to consider entering long positions.
$SOL 50% pullback – Exactly to the cent – learn to measure the 50% and trade accordingly. From 22 June low to 22 July high – exactly 50% is $164. Crypto is highly manipulated. There are no coincidences.Long here if you trade or buy spot here if you accumulate. pic.twitter.com/04sb5I2x95
— MartyParty (@martypartymusic) August 1, 2025
