Defi Development Corp. (Nasdaq: DFDV), a company aimed at building a Solana Treasury strategy, has announced an extra acquisition of SOL. The company established in the US has bought another 47,272 sol coins for around $ 7.03 million.
As a result, Defi Development Corp now has a total of 690,420 Sol coins, which is currently worth around $ 102.7 million. The company increased its SOL companies with more than 64 percent in the past two months, which will be used to guarantee a steadily yield income.
Solana Network receives more support from institutional investors
In the recent past, the Solana network has put on more crypto investors, led by institutional investors. As Coinpedia has emphasized, the US Sec has the involvement in the fund managers who want to offer Spot Solana ETFs, which indicates potential approval.
As a result of the increasing demand from retail and institutional investors, data analysis on chains have recorded that the Solana network has registered more than 14.63 million active addresses in the last 24 hours.
What is the next step for Sol Price?
In the past year, Solana Price has set a robust support level around $ 125. Although the SOL price has formed a potential reversing pattern in the weekly period of time, the shorter timeframe suggests a potentially bullish sentiment.
According to Crypto analyst Ali Martinez, Sol Price has to retain around $ 149 above the level of support to invalidate possible capitulation in the short term. In the four-hour period of four hours, the SOL price has formed a symmetrical triangular pattern after the outbreak of a falling logarithmic trend.
A consistent rally above the resistance level around $ 157 will activate a new bullish rally to the next major liquidity level around $ 200.