- SOL Strategies’ $20M Solana acquisition supports validator scaling and deeper integration with Solana’s decentralized infrastructure.
- DeFi Dev Corp’s $11.2M SOL buy pushes holdings to 400K+, reinforcing its treasury model built around staking and long-term yield.
- Rising institutional accumulation and locked token strategies apply upward pressure on Solana’s supply and long-term price dynamics.
Two public companies have added a combined $31 million in Solana (SOL) to their balance sheets, signaling growing institutional confidence in the blockchain ecosystem. The acquisitions come amid rising network activity and follow major treasury policy shifts by both firms.
SOL Strategies Executes $20M Acquisition Under Convertible Note Deal
SOL Strategies Inc. deployed the full $20 million first tranche from its $500 million convertible note facility to purchase 122,524 SOL at an average price of $148.96. In a post by CryptoRus, CEO Leah Wald stated the purchases strengthen the firm’s “three-pillar strategy of enterprise-grade validators, strategic SOL holdings, and Solana technology innovation.”
The company confirmed the transaction in a May 6 press release, noting the SOL was acquired for $18.25 million after fees. The move marks a direct execution of capital deployment plans outlined following the note agreement with ATW Partners.
This change has led to significant outcomes for SOL Strategies’ operational roadmap. By increasing its SOL exposure, the firm aims to scale its validator infrastructure while directly supporting Solana’s decentralized network integrity.
DeFi Dev Corp Adds 82,404 SOL to Treasury Reserve
DeFi Development Corp. has purchased approximately $11.2 million worth of Solana tokens, increasing its total SOL holdings to 400,091, now valued at around $58.5 million. According to a report by DeFi Planet, the firm adopted a treasury strategy centered on long-term SOL accumulation, with exposure held under both liquid and locked custody.
A portion of the newly acquired SOL was sourced via BitGo’s OTC desk and is subject to time-based unlock schedules. These locked tokens, while non-transferable until expiry, will be staked to generate native rewards as part of DeFi Dev’s yield strategy.
One notable development worth mentioning is the company’s SOL-per-share (SPS) disclosure. As of May 6, each share represents 0.199 SOL, or $29.24 in value. This aligns with its strategy to offer shareholders direct blockchain exposure without token custody.
SOL Price Climbs as Institutional Demand Accelerates
Solana traded at $147.01 on May 6, up 3.39% on the day, with 24-hour volume reaching $2.9 billion amid investor enthusiasm. CoinMarketCap data showed a market cap of $76.28 billion and a fully diluted valuation (FDV) of $88.14 billion, reflecting investor appetite across supply tiers.
This shift in direction has important implications for price dynamics. Institutional accumulation, validator growth, and locked token strategies are increasing long-term holding pressure on the circulating supply. Solana’s active address count and sustained uptime continue to reinforce its utility case in the broader DeFi and Web3 market.
