Solana’s SOL Recovers Near $145 as Seven ETFs Gain Momentum and DeFi Dev Corp Signals Fresh Buying

Solana Finds Support Near $144 as Institutional Capital Steps In Despite Retail Weakness

Solana (SOL) stabilized near $144 on Friday, paring earlier losses amid geopolitical headwinds and low retail participation. The token was down just over 2% in the past 24 hours but managed to hold key support at the lower end of its $145–$149 trading range, a zone that has attracted steady institutional attention in recent weeks.

While the broader crypto market continues to digest the fallout from the Israel-Iran conflict and shifting macro risk, Solana’s ecosystem received two notable boosts that may signal long-term strength.

First, all seven spot Solana ETF applicants — including names like Fidelity, Grayscale, and VanEck — updated their S-1 filings at the SEC’s request. The new filings incorporate staking mechanisms, a move that aligns the products with Solana’s native yield infrastructure. This structural shift could make the ETFs more attractive to institutions seeking yield alongside price exposure.

Second, DeFi Development Corp, a Nasdaq-listed firm focused on SOL treasury strategy, secured a $5 billion equity line of credit from RK Capital. Unlike traditional lump-sum raises, the ELOC allows DeFi Dev Corp to issue shares gradually to fund incremental SOL accumulation. The strategy is designed to avoid immediate dilution and market disruption.

Though the company withdrew a prior Form S-3 filing after the SEC flagged technical issues, it plans to submit a revised resale registration. In the meantime, the firm’s existing SOL holdings — now exceeding 609,000 tokens worth $97M+ — remain untouched, with CEO Joseph Onorati emphasizing a long-term approach to staking and validator participation.

Technicals remain neutral-to-cautious. The MACD and RSI reflect subdued momentum, but whale accumulation is visible just below $146, suggesting some institutional players see value at current levels.

Technical Snapshot:

Price range: $144.13 to $148.70 (3.08%)
Support: Holding at $144 after high-volume drop
Resistance: $149 remains firm; intraday rejection at $145.78
Whale Activity: Spikes in volume and accumulation below $146
ETF Tailwinds: Revised S-1s introduce staking components — a bullish structural shift