DeFi Development Corporation has increased its Solana (SOL) holdings to 317,273 SOL ($48.2 million) after acquiring an additional 65,305 tokens ($9.9 million).
Solana's institutional interest is growing, with Galaxy Digital moving $106 million from ETH to SOL, and SOL Strategies Inc. securing $500 million for the Solana blockchain ecosystem.
Analysts anticipate a bullish run for SOL, with a potential retest of $150 and a potential extension to $176, based on the formation of a head and shoulders pattern.
There is a possibility of SOL returning to $140, and failure to validate its bullish potential could result in a price decline to the 100-day EMA at around $133.