Solana Holds Steady as Institutional Money Flows Into Liquid Staking
Solana ($SOL ) continues to show strength, trading at $172 and holding firm support near the $170 level, maintaining its trajectory within a rising price channel. Despite delays in spot Exchange Traded Fund (ETF) approvals, institutional interest in Solana remains robust, supported by developments in liquid staking and major investment initiatives.
This week, DeFi Development Corp., a publicly listed company, announced it would utilize liquid staking token (LST) technology to diversify and expand its Solana treasury. Their new initiative, using the dfdvSOL token, allows for the accumulation and compounding of SOL through a liquid representation of staked assets. This mechanism enables users to access staking rewards while retaining liquidity — a major innovation in decentralized finance (DeFi). Parker White, Chief Investment Officer of DeFi Dev Corp., noted that the move boosts validator equity and strengthens the firm’s long-term commitment to the Solana ecosystem.
In a parallel institutional move, Canada-listed SOL Strategies filed a preliminary prospectus with the Canadian Securities Administrators to raise up to $1 billion over two years through shares, warrants, and other financial instruments. The funds are intended to support infrastructure development and investment within the Solana ecosystem, signaling strong institutional conviction.
Technically, SOL remains bullish. The token has recovered from its April 7 low of $95.30, rebounding and now trading well above key moving averages. The 200-day EMA sits at $163.58, while the 50-day and 100-day EMAs converge around $160 — all acting as strong support levels. If momentum continues and the price stays above these averages, analysts expect a potential rally toward the $200 mark.
With institutional backing and technical strength, Solana's near-term outlook remains optimistic, especially as liquid staking innovations continue to gain traction.