DeFi Development Announces Plans to Raise $100M to Buy More Solana: What Next for SOL Price?

Uncover the most recent traits within the NFT & Web3 area. This article dives into: “DeFi Development Announces Plans to Raise $100M to Buy More Solana: What Next for SOL Price?”.

Solana (SOL) value has signaled a potential additional correction after being rejected above $160 earlier this week. The large-cap altcoin, which is closely incentivized by the mainstream adoption of memecoins and real-world property tokenization (RWA), dropped over 5 p.c within the final 24 hours to commerce at about $146.55 on Tuesday, July 1, 2025, throughout the mid-North American buying and selling session.

Institutional Demand Spells Hope for Solana 

The demand for Solana has grown exponentially previously yr fueled by institutional traders. As Coinpedia famous, the U.S. SEC’s approval of the primary Solana ETF product, after the company gave Grayscale the inexperienced gentle to convert its Grayscale Digital Large Cap (GDLC) Fund right into a spot ETF, signaled an imminent approval of the remainder of the spot SOL ETF software quickly.

Due to the rising natural demand for Solana, DeFi Development Corp. (NASDAQ: DFDV) has introduced plans to double down on its SOL acquisitions. On Tuesday, DeFi Development Corp. introduced it intends to elevate $100 million via convertible senior notes due 2030. 

“The Company intends to use a portion of the net proceeds from the offering to repurchase shares of the Company’s common stock, par value $0.00001 per share through the prepaid forward described below.  The Company expects to use the remainder of the net proceeds from the offering for general corporate purposes, including the acquisition of SOL,” DeFi Development, famous.

What’s Next for SOL Price?

As with the remainder of the altcoins, the SOL value has finally mirrored BTC value motion within the latest previous. In the day by day timeframe, Solana value was rejected from the 50 Moving Average Simple (SMA), thus signaling the bulls have misplaced preliminary restoration momentum.

Nonetheless, the rising demand for SOL by institutional traders, amid crypto regulatory readability, hints at a possible bullish restoration later this yr.

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