Solana Price Forecast – SOL Eyes $177.79 as Institutional Demand Grows 

Highlights:

• Solana is gaining bullish momentum after breaching the $143.86 resistance
• Rally puts the $177.79 resistance in focus on short-term
• Whale accumulation could help drive Solana to higher short-term 

Solana continues to show strength as the broader cryptocurrency market gains bullish momentum. At the time of going to press, Solana was trading at $154.01, an increase of 4.64% in the day. Part of the reason Solana is gaining this week is the rising bullish sentiment across the market. However, multiple other Solana-specific factors are driving bullish sentiment. 

Whales Splash with Huge SOL Accumulation – A Bullish Signal

A primary driving force behind the rally is increased whale accumulation, most notably by DeFi Development Corporation (DeFi Dev Corp) who recently purchased an additional 65,305 SOL, bringing its total to 317,273 SOL. The transaction amounts to approximately $9.8 million which illustrates increasing institutional trust in Solana.

Thanks for the mention!

To be clear, we've already started accumulating $SOL and are the largest holder of $SOL among any public company.

See for yourself! https://t.co/zGSWneEbxH pic.twitter.com/n0gLAm0FJJ

— DeFi Dev Corp (@defidevcorp) April 25, 2025

DeFi Dev Corp’s SOL holdings are valued at about $47.6 million factoring in staking rewards, with a significant portion staked due to this purchase. A portion of staked SOL was purchased from BitGo’s OTC desk, reflecting a strategically profitable yield generation approach. These tokens are expected to be locked to earn native yield thus reinforcing commitment and further expectation to long-term strategic allowance for captive tokens.

Commenting on the acquisition, Joseph Onorati, CEO of DeFi Dev Corp, noted the tactical nature of the move, mentioning it falls under a treasury strategy. With a reputable partner like BitGo, the firm enabled USD to purchase locked, discounted tokens. This way, the firm can accumulate $SOL (American depositary share of Solana Digital Securities, Inc.) at below-market prices and further integrate within the Solana ecosystem.

Galaxy Digital Backs Solana Over Ethereum

This is not the only company reallocating capital to Solana. Not too long ago, Galaxy Digital made the news after reallocating $106 million from Ethereum into Solana. This kind of portfolio reshuffling indicates that more investors are becoming optimistic about Solana’s sustainability and growth potential.

Galaxy Digital, a major crypto investment firm, shifted $105M in Ethereum (ETH) to Binance and withdrew $98M in Solana (SOL)

This move suggests a strategic portfolio shift toward SOL, likely due to its lower transaction costs and higher speed. pic.twitter.com/QES7ckDCQj

— CryptoTvplus (@Cryptotvplus) April 22, 2025

Tailing the bullish narrative, SOL Strategies entered into a $500 million convertible notes deal with ATW Partners this week. The capital is dedicated to acquiring and staking SOL, especially via validator slots. This institutional capital injection marks a long-term wager on the price and the supporting infrastructure of the Solana network.

Solana Foundation Reforms Validator Policies

Alongside the market activities, the Solana Foundation has published a new policy on validators aimed at improving the network’s decentralization. Beginning April 23, the policy imposed more stringent onboarding and offboarding rules within the SFDP. The aim of this policy change is to reduce dependence on foundation-delegated stake, which has become the norm, and stimulate broader community engagement.

Solana Foundation shifts policy, removing 3 validators for every new one added to the Delegation Program. Aimed at reducing dependency on Foundation-backed delegation, the move encourages active validator growth and enhances network efficiency. This aligns with Solana's… pic.twitter.com/7nZPyE41A9

— SOLOWL (@_Sol_Owl) April 24, 2025

Ben Hawkins, who leads Solana’s staking ecosystem, said the SFDP will onboard three validators for every new mainnet delegate. Most importantly, validators must have at least 1,000 SOL staked outside of the Foundation’s delegation and must be active participants of the program for at least 18 months.

This move aims to improve decentralization by encouraging self-sufficiency and shifting power directly to the validators. It will also help in fostering balanced staking ecosystems and reduce the centralizing threats which can be posed by the foundation delegated stake.

Technical Analysis – SOL Bulls Breach Resistance

While most cryptocurrencies are struggling at resistance levels, Solana is one of the few that have broken critical resistance. 

With bullish momentum on the rise, Solana’s next target is $177.97. However, if bulls falter, then Solana could drop back to $143.86, now support.

Recap

The combination of whale accumulation, institutional reinvestment, decentralized governance shifts, and positive technical set-ups forms an enduring base for Solana’s recent rally. It is still uncertain if SOL will attempt to break the $176 mark, however, the market’s perception is more bullish in the short to medium term.