Solana Battles Resistance At $190 As Investor Doubles Down with $5B Equity Injection

Solana SOL/USD is trading at $144, showing a rising open interest and RSI following a $5B equity line by a major investor to expand its SOL holdings.

DeFi Development Corp DFDV obtained a $5 billion equity facility to accelerate its accumulation of Solana tokens, underscoring a firm commitment to the blockchain's long-term growth trajectory. The move sharpens DeFi's Sol-per-share strategy and signals long-term conviction.

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The equity firepower is also adding weight to bullish positioning while the ecosystem battles cooling meme-coin volumes and validator tensions. Whether DeFi's capital injection steadies the ship remains to be seen.

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More Solana Headlines You Should Know

Hivemapper HONEY/USD, the decentralized mapping network built on Solana, is gaining traction as one of crypto's real-world revenue machines. Founder Ariel Seidman confirmed recent deals with Lyft Inc LYFT, TomTom TMOAF, and Trimble Inc TRMB, strengthening its reputation beyond mere buzz.

Using token rewards and a global fleet of dashcam drivers, Hivemapper now maps over a third of the world's roads. Backed by Pantera Capital, Hivemapper is redefining DePIN economics, blurring the lines between users and infrastructure. While most projects chase adoption, this one's already cashing checks and mapping what crypto utility might actually look like.

Solana is also gaining traction from institutional players amid rising Layer 2 innovation. Nasdaq is adding SOL to its crypto index, hinting at potential ETF inclusion. Meanwhile, Solaxy SOLX/USD, Solana’s first Layer 2, raised $46M in presale, aiming to boost reliability and reduce congestion. Validator diversity is rising, enhancing Solana’s decentralization.

Trading and Technicals

Solana's futures open interest hit a two-year high at $7.4 billion this week, driven by ETF speculation and increased institutional participation. Although open interest surged, flat funding rates and a steep 64% plunge in DEX activity point to a lack of strong investor conviction. SOL remains 47% below its all-time high, while competition from BNB Chain BNB/USD and fading network momentum continue to pressure its upside potential. A U.S. spot ETF approval could be a catalyst, but for now, a breakout to $200 lacks strong support.

Solana is showing mixed signals, trading below its 21- and 50-week SMAs but above the 100- and 200-week levels. Its RSI at ~39 suggests neutral to mildly bearish tone. ADX reading of 33 signals a moderately strong trend, with key technical zones clustered around support at $147 and resistance levels near $155 and $160.

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