Solana's Price Surges 36% as Institutions Accumulate $14.6 Million in SOL

Solana (SOL) is currently trading at $139, outperforming major altcoins due to fresh institutional demand and strategic long-term accumulation. Leading this trend is Janover Inc., now known as DeFi Development Corporation, which recently added $5 million worth of SOL to its treasury. This purchase of 44,158 tokens brings its total holdings to 83,084 SOL, valued at approximately $9.6 million. This marks Janover’s second major Solana buy, reflecting a 109% jump in SOL-per-share value to $6.59. The aggressive accumulation follows an April leadership shake-up, where ex-Kraken executives took over, raised $42 million, and pivoted the firm toward Solana staking and DeFi infrastructure.

Janover is not the only institution betting on Solana. SOL Strategies Inc., a Canada-based crypto investment firm, has also made significant investments in Solana. In March, it added 24,000 SOL to its treasury, bringing its total holdings to 267,151 SOL, worth over $30 million. Notably, most of these tokens are actively delegated to validator nodes, indicating a long-term commitment to Solana’s proof-of-stake economy. Despite the solid fundamentals, SOL Strategies’ stock has lagged behind, dropping 67% year-to-date—a stark contrast to SOL’s 36% slide. However, CEO Leah Wald remains optimistic, confirming plans to expand staking operations into other chains like SUI, Monad, and Archway.

Whale activity also supports the bullish sentiment around Solana. On-chain data shows that a long-dormant wallet recently purchased 32,000 SOL, worth about $3.72 million, just before Janover’s announcement. This same address famously bought 30,541 SOL at $216 during the last cycle and held onto it even when prices dropped below $10. This accumulation by whales, along with institutional investments, suggests a growing confidence in Solana’s future.

From a technical perspective, Solana remains in bullish territory. After briefly testing resistance at $145, the price has pulled back slightly to $139, but key support at $136–$131 remains intact. The 50-day EMA around $131 adds confluence to this zone. Momentum indicators, such as the MACD, are trending higher, suggesting that buyers are maintaining control. If SOL can break through $145 with conviction, the next upside targets sit at $153 and $161. This technical setup, combined with institutional stacking and whale activity, indicates that Solana is quietly preparing for its next big move. While the headlines focus elsewhere, smart money is clearly circling, and for patient investors, this stealth rally may just be the beginning.