SOL, the native cryptocurrency of the Solana blockchain, recorded low volatility trading during Thursday’s U.S. market hours. The insignificant intraday gain of 0.15% displayed the doji neutral candle, indicating the daily chart shows market uncertainty with long rejection wicks on either side. While the sideways action may concern short-term speculators, the institution continues to stack more Solana coins, reinforcing the price potential for future recovery.
DeFi Dev Corp Adds $2.27M in SOL
On Thursday, July 3rd, DeFi Development Corp., the first publicly traded company with a SOL treasury strategy, disclosed its recent purchase of 17,760 SOL at an average price of $153.10, valued at around $2.72 million.
Following the transaction, the firm’s total SOL and SOL-equivalent holdings have surged to 64,585 coins, projecting a market value of $98.1 million. The figures include staking rewards as the company continues to leverage its Solana holdings for yield generation.
According to the data shared by the company, DDC has 14,740,779 shares outstanding as of its most recent public filing on June 24, 2025. This equates to a 0.042 SOL per share (SPS), where each share represents about $6.65 worth of SOL.
DDC also reiterated that the newly acquired SOL will be held long-term and staked to a variety of validators, including its own in-house Solana validator node.
Such institutional interest often boosts market sentiment and drives demand pressure.
Head & Shoulders Breakout Sets Solana for $180 Rally
Over the last two weeks, the Solana price has bounced from $126 to $152, indicating a 20.5% gain. This recovery showed a pair of higher highs and higher lows, indicating a renewed recovery sentiment in the market.
An analysis of 4-hour charts reveals the potential formation of an inverted head-and-shoulders with a neck resistance at $158. Typically, the pattern shows three troughs, i.e., the middle head enveloped by two shoulders.
Currently, the coin price trades at $152, standing just 4% short of a potential breakout that will signal the continuity of the recovery, followed by a move to $168, with an extended period to $190.
On the contrary, if sellers continue to defend the $158 resistance, the current price trade could extend sideways in the coming months.
