🌊 Solana Holds Steady Institutional Money Flows Into Liquid Staking

Solana maintains rising channel with $170 support.

To diversify its Solana treasury, DeFi Development Corp. used liquid staking token technology.

Canada-listed SOL Strategies filed a preliminary prospectus to fund $1 billion for Solana ecosystem infrastructure and investment.

On Thursday, Solana (SOL) traded at $172, up marginally. The SOL spot Exchange Traded Fund (ETF) approval delay has not slowed interest in the smart contracts token.

DeFi Development Corp's liquidity staking effort and SOL Strategies preliminary prospectus aim to fund $1 billion for Solana ecosystem infrastructure.

On Wednesday, DeFi Dev Corp., the first public corporation to accumulate and compound SOL, stated it will use liquid staking token (LST) technology. The program uses dfdvSOL, an LST reflecting a stake granted to DeFi Dev Corp. validators, to grow and diversify the company's SOL treasury.

LST technology lets users exchange staked SOL tokens for liquid tokens. This lets holders access staking benefits without losing liquidity.

Parker White, the Company's Chief Investment Officer, stated that dfdvSOL adds equity to our validators, increases SOL ownership, and strengthens our position as a long-term Solana ecosystem stakeholder.

SOL Strategies, listed in Canada, filed a preliminary short-form basic prospectus with the Canadian instruments Administrators to raise $1 billion in common shares, warrants, and other instruments over two years.

Solana is now trading at $172, holding around $170 support. The rising channel reflects SOL's positive attitude after the tariff-triggered slump to $95.30 on April 7.

SOL is above significant moving averages, from the 200-day Exponential Moving Average (EMA) at $163.58 to the junction of the 100-day and 50-day EMAs at $160.00. Traders may expect prolonged gains toward $200 if the moving average continues to track the SOL price advance.

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