SOL Strategies and DeFi Development Corp Invest Nearly $600 Million in Solana, Signaling Long-Term Confidence

SOL Strategies and DeFi Development Corp Invest Nearly $600 Million in Solana, Signaling Long-Term Confidence

SOL Strategies and DeFi Development Corp have recently made a combined investment of $599 million to support Solana (SOL) incentives, in a move that resembles MicroStrategy's aggressive Bitcoin strategy—but this time, the focus is on Solana.

SOL Strategies Increases Holdings to Over $540 Million

SOL Strategies previously held approximately $40.4 million in Solana. On April 15, the firm acquired an additional $500 million worth of SOL, bringing its total holdings to over $540 million.

On the same day, DeFi Development Corp purchased around $9.9 million worth of locked Solana through BitGo’s OTC desk. These assets cannot currently be transferred on-chain, but were reportedly acquired at a discount. With this acquisition, DeFi Development has expanded its long-term Solana treasury to approximately $48 million.

SOL Surges 20% in Two Weeks Amid Institutional Inflows

Amid a wave of institutional capital inflows and improving market sentiment, SOL has risen 20% over the past two weeks, outpacing both Bitcoin and Ethereum. The scale of recent investments highlights strong confidence in Solana’s long-term growth potential. Some investors and analysts now speculate that Solana could eventually surpass Ethereum to become the second-largest cryptocurrency by market cap.

Nasdaq recently noted, "Solana appears to be encroaching on Ethereum’s dominance. If more investors lose confidence in Ethereum, we could see a migration toward Solana, which would fuel further demand for SOL."

Additionally, Solana’s Relative Strength Index (RSI) has reached 66.54, approaching the overbought threshold of 70. This suggests strong buying momentum and growing market confidence.