13 hours ago
Solana (SOL) SOL traded astatine $144.14 connected June 14, down 2.06% implicit the past 24 hours, but showed resilience arsenic semipermanent organization enactment offset retail-driven weakness. Price enactment remains pinned adjacent the little extremity of its caller $145–$149 consolidation zone, pursuing a broader multi-day correction crossed crypto markets tied to rising geopolitical tension.
Despite caller weakness, 2 large organization developments suggest deepening engagement with the Solana ecosystem.
First, Bloomberg’s James Seyffart confirmed connected Friday that this week that each 7 spot Solana ETF issuers — i.e. including Fidelity, Grayscale, VanEck, 21Shares, Franklin, Bitwise and Canary Marinade —submitted updated S-1 filings with the SEC. Each filing present includes staking provisions, making them structurally aligned with solana’s on-chain economics.
Second, DeFi Development Corp, a Nasdaq-listed Solana treasury firm, announced connected Thursday that it entered into a $5 cardinal equity enactment of recognition (ELOC) statement with RK Capital. The installation allows DeFi Dev Corp to contented shares gradually to money further SOL accumulation, alternatively than relying connected a single, fixed-price offering.
This follows a insignificant regulatory setback: connected Wednesday, the institution applied to the SEC for the withdrawal of registration connection connected Form S-3. It said it wanted to retreat a anterior S-3 filing owed to method eligibility issues flagged by the SEC. The steadfast said it would record a resale registration connection successful the aboriginal to rise the superior it needs.
Despite the filing hiccup, the institution emphasized its continued committedness to increasing its SOL treasury, which presently holds implicit 609,190 tokens — valued astatine much than $97 million. CEO Joseph Onorati said successful Thursday's property merchandise that the caller superior operation offers a “clean, strategical path” to standard vulnerability portion compounding validator yield.
SOL’s terms appears to beryllium stabilizing arsenic these organization tailwinds strengthen, adjacent arsenic retail enactment remains subdued.
Technical Analysis Highlights
- SOL traded successful a 24-hour scope of $4.57 (3.08%), from $144.13 to $148.70.
- Initial spot faded, with terms drifting toward the $144 enactment level.
- Resistance remains steadfast adjacent $149, portion short-term rejection deed $145.78.
- High-volume selling occurred betwixt 13:41–13:47 UTC, with a crisp driblet from $145.95.
- A measurement spike astatine 13:23 UTC aligned with the failed breakout.
- Whale accumulation continues beneath $146, though follow-through remains limited.
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