Solana Nears $200 as $250M Treasury Boost from DeFi Development Corp Spurs Institutional Frenzy

Solana (SOL) has extended its bullish momentum, climbing 12% in the past 24 hours to trade above $196, driven largely by aggressive institutional buying. The surge follows DeFi Development Corp’s (DDC) strategic move to expand its Solana holdings to over 1.3 million SOL tokens, now valued at nearly $250 million.

DDC’s treasury strategy, reminiscent of MicroStrategy’s Bitcoin playbook, involves raising capital to purchase Solana and generating yield through staking.

CEO Joseph Onorati revealed that the firm earns over $63,000 daily in SOL-denominated revenue from validator operations, delivering a 10% Annualized Organic Yield (AOY), a feature unavailable to non-staking assets like Bitcoin.

In early August, DDC purchased over 4,500 SOL, further solidifying its position. The company recently completed a $122.5 million convertible loan issue led by Cantor Fitzgerald, which directly boosted its Solana reserves. The move underscores the growing appeal of Solana’s proof-of-stake ecosystem for institutional players.

Bullish Technicals Point Solana to $215 and Beyond

From a technical standpoint, SOL has decisively broken out of the $175–$190 resistance zone, topping out at $199. Key resistance now sits at $200 and $205. A sustained close above $205 could clear the path toward $212 and potentially $220, with extended targets around $244–$250.

Chart indicators show strong bullish momentum. The MACD has accelerated into positive territory, while the RSI remains above 50 without being overbought, leaving room for further gains. The Chaikin Money Flow (CMF) has also surged above zero, signaling renewed institutional inflows.

However, traders should monitor immediate support at $194 and $186, with a breakdown below $175 potentially invalidating the current bullish thesis.

Broader Catalysts: Tokenization and ETF Prospects

Institutional adoption of Solana is not limited to DDC. Asset manager CMB International recently tokenized a cross-border mutual recognition fund on the Solana blockchain, highlighting its growing role in global finance.

Additionally, the U.S. SEC is reviewing multiple applications for Solana ETFs, with potential approvals expected within two months, a development that could open the floodgates for mainstream investment.

If Solana maintains momentum above $200 and breaks through the $220 resistance with strong volume, analysts believe a short-term rally toward $250 is increasingly likely. With its expanding staking economy, real-world tokenization deals, and regulatory tailwinds, Solana’s institutional appeal appears stronger than ever.