Solana (SOL)
SOL$ 144.55
Traded at $ 144.14 on 14 June, a decrease of 2.06% in the last 24 hours, but showed resilience as an institutional long -term activity, the stores -driven weakness compensated. Price promotion remains attached to the bottom of his recent $ 145- $ 149 consolidation zone, after a broader multi-day correction on cryptom markets connected to rising geopolitical voltage.
Despite the recent weakness, two important institutional developments suggest that deepening involvement in the Solana Ecosystem.
Firstly, James Seyffart from Bloomberg confirmed on Friday that this week all seven Solana ETF-Etfenten-DWZ including Fidelity, Grayscale, Vaneck, 21Shares, Franklin, Bitwise and Canary Marinade-Ubitted S-1 inventory substances with the sec. Each archiving now includes setting provisions, so that they are structurally tailored to the economy of Solana on the chain.
Secondly, Defi Development Corp, a Nasdaq-listed Solana Treasury company, announced on Thursday that it has entered into a $ 5 billion of Credit (ELOC) share of RK Capital. The facility enables Defi DEV Corp to gradually issue shares to finance extra sol accumulation, rather than trusting a single supply of fixed price.
This follows a small setback for the regulations: on Wednesday the company submitted an application to the SEC for the withdrawal of the registration declaration on form S-3. It said that it wanted to withdraw an earlier S-3 application because of the technical problems marked by the SEC marked by the SEC. The company said that in the future it would submit a resale registration statement to increase the capital it needs.
Despite the submission of Hiccup, the company emphasized its constant dedication to grow its Sol Treasury, which currently has more than 609,190 tokens – with a value of more than $ 97 million. CEO Joseph Onorati said in Thursday’s press release that the new capital structure offers a “clean, strategic path” to scale exposure, while the validator yield has been compiled.
The price of SOL seems to stabilize as this institutional ridge reinforces, even if the retail activity remains modest.
Technical analysis highlights
- Sol traded in a 24-hour range of $ 4.57 (3.08%), from $ 144.13 to $ 148.70.
- The first strength faded, with price that floats to the support level of $ 144.
- Resistance remains firmly near $ 149, while rejection reached $ 145.78 in the short term.
- High volume sale took place between 13: 41-13: 47 UTC, with a sharp fall of $ 145.95.
- A volume peak at 13:23 UTC aligned with the failed breakout.
- Whale accumulation continues under $ 146, although the order is limited.
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