Corporations Want Solana, Will SOL Price Hit $500+ This Cycle?
The post Corporations Want Solana, Will SOL Price Hit $500+ This Cycle? appeared on BitcoinEthereumNews.com.
Key Notes Publicly traded firms like DeFi Dev Corp.and Sol Strategies are aggressively accumulating SOL. A new partnership between R3 and the Solana Foundation links $10B in tokenized assets to the Solana. A bullish cup-and-handle pattern places projections for SOL’s price between $400 and $500+. DeFi Development Corp., a publicly traded firm now rebranded from its real estate origins, recently adopted liquid staking token (LST) technology via dfdvSOL, developed by Sanctum, allowing it to stake SOL while retaining liquidity. The move marks the first time a public company has owned LSTs on the Solana network, solidifying DeFi Dev Corp.’s role as a frontrunner in crypto-native treasury management. Corporate capital floods into solana The firm, now led by former Kraken executives, has raised $24 million to fund further Solana accumulation. Its latest May 15 purchase brought its total SOL holdings to over 609,000 coins, currently worth more than $105 million. But DeFi Dev Corp. is not alone. Canada-listed investment firm Sol Strategies has filed a preliminary base shelf prospectus to raise up to $1 billion CAD (~$730 million USD) to further invest in Solana. Formerly known as Cypherpunk Holdings, the firm has already spent $20 million from a $500 million convertible note facility to purchase 122,524 SOL. CEO Leah Wald emphasized that the fund seeks flexibility to seize future opportunities in Solana’s fast-evolving landscape. Big banks are building on solana Solana’s legitimacy has surged following a major partnership between UK blockchain developer R3 and the Solana Foundation. According to Financial Times, the Foundation’s President Lily Liu is even joining R3’s board. R3’s enterprise blockchain, Corda, which already handles $10 billion in tokenized assets and counts HSBC, Bank of America, and the Monetary Authority of Singapore among its clients, will now link with Solana to speed up transactions and increase flexibility. While…
Filed under: News - @ May 29, 2025 10:25 am