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  • Solana Drops 10% Despite DeFi Dev Corp’s $5B Acquisition Plan
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Solana Drops 10% Despite DeFi Dev Corp’s $5B Acquisition Plan

Cal Evans 13 June 2025
SOLANA IMAGE OF PRICE ANALYSIS
  • Solana fell 10% despite DeFi Dev Corp’s plan to raise $5 billion to increase its SOL holdings.
  • Technical indicators show bearish pressure as SOL tests key support near $142.

Solana (SOL) has dropped 10% in the past 24 hours, even after Nasdaq-listed DeFi Development Corporation (DeFi Dev Corp) unveiled plans to raise $5 billion to increase its SOL holdings. This surprising decline highlights growing investor concerns, despite what appears to be a bullish development on paper.

DeFi Dev Corp’s $5B Equity Line Targets Solana

DeFi Dev Corp aims to raise up to $5 billion via an equity line of credit (ELOC) with RK Capital Management. This strategic move allows the firm to sell shares gradually, when market conditions are favorable, rather than at fixed pricing—providing greater flexibility. The proceeds will go directly into purchasing SOL as part of the company’s aggressive accumulation strategy.

This comes after the withdrawal of a previous $1 billion filing with the U.S. Securities and Exchange Commission (SEC). The earlier plan was dropped because the SEC found the company ineligible due to a missing internal control report.

Strategic Staking and Integration on Solana

In addition to the funding plan, DeFi Dev Corp is integrating its liquid staking token, dfdvSOL, into RateX, a Solana-based yield trading platform. This integration opens up yield farming, fixed-yield products, and trading incentives for holders of dfdvSOL, making it a potentially lucrative token within the Solana DeFi ecosystem.

The company has already accumulated 609,190 SOL—valued at $93 million—across 11 purchases since April, reflecting strong long-term conviction in Solana’s potential.

Market Reaction Remains Bearish

Despite these seemingly positive developments, Solana’s price has dropped below the critical 50-day Simple Moving Average (SMA). The broader crypto market is also struggling, with many altcoins facing similar double-digit losses.

SOLANA /TETHERUS PRICE CHART FOR 24 HOURS PERIOD
SOL/USDT daily chart

SOL is currently testing the $142 support level, which is bolstered by the 100-day SMA. Technical indicators such as the Relative Strength Index (RSI) and Stochastic Oscillator both point to increased bearish pressure, suggesting that prices could slide further if support breaks.

Even as DeFi Dev Corp takes bold steps to support Solana through strategic funding and integrations, market sentiment appears focused on broader macro weakness. Unless SOL holds its key support levels, the token could see further downside despite institutional-level backing.

ALSO READ:Why Solana Is a Top Blockchain to Watch in 2025

DISCLAIMER:
The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of the publisher. The publisher does not endorse or guarantee the accuracy of any information presented in this article. Readers are encouraged to conduct further research and consult additional sources before making any decisions based on the content provided.

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