Solana (Sol)
Traded at $ 144.14 on June 14, down 2.06% over the last 24 hours, but showed resilience as long -term institutional activity offset retail -driven weakness. Price action remains attached near the lower end of its recent $ 145- $ 149 consolidation zone following a broader multi-day correction across crypto-markets tied to rising geopolitical tension.
Despite the recent weakness, two major institutional developments suggest elaboration of commitment with the Solana ecosystem.
First, Bloomberg’s James Seyffart confirmed on Friday that this week this week mocked Solana Etf issuers-DVS. Including Fidelity, Grayscale, Vaneck, 21Shares, Franklin, Bitwise and Canary Marinade —Submitted Updated S-1 archives with SEC. Each filing now includes action regulations, making them structurally in line with Solana’s economy on-chain.
Secondly, Defi Development Corp, a NASDAQ-listed Solana Treasury company, announced on Thursday that it signed a $ 5 billion equity (ELOC) agreement with RK Capital. The facility allows DEFI DEV CORP to gradually issue shares to finance additional solar accumulation instead of relying on a single offer with a fixed price.
This follows a smaller legislative setback: Wednesday the company applied for SEC to withdraw the registration statement on form S-3. It said it wanted to withdraw a previous S-3 archiving due to technical eligibility issues marked by SEC. The company said it would submit a resale registration declaration in the future to raise the capital it needs.
Despite the submission of Hiccup, the company emphasized its continued obligation to grow its sun treasury, which currently has over 609,190 tokens – appreciated for 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 compound validator yield.
The sun’s price seems to be stabilizing as these institutional tail winds strengthen even when retail activity remains muted.
Technical analysis highlights
- Sun traded in a 24-hour range of $ 4.57 (3.08%) from $ 144.13 to $ 148.70.
- The original force faded, with price driving towards the support level of $ 144.
- The resistance remains fixed near $ 149 while short -term rejection hit $ 145.78.
- Sales of high volume occurred between 13: 41–13: 47 UTC with a sharp fall from $ 145.95.
- A volume at. 13:23 UTC in line with the failed breakout.
- Whale accumulation continues below $ 146, although follow -up remains limited.
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