Solana (SOL) is steadily climbing, trading around $139 and outperforming many major altcoins in recent weeks. While the broader crypto market continues to digest volatility and shifting macroeconomic conditions, Solana is quietly attracting long-term interest from both institutional players and high-net-worth individuals. The driving force behind this steady accumulation appears to be growing confidence in Solana’s technological foundation, as well as strategic positioning from firms looking to benefit from staking and DeFi innovations.

One of the most significant recent developments comes from Janover Inc., now operating under its rebranded identity as DeFi Development Corporation. The firm recently added $5 million worth of SOL to its treasury, purchasing 44,158 tokens. This brings their total Solana holdings to over 83,000 SOL, currently valued around $9.6 million. This latest investment follows an internal leadership overhaul in April, with former Kraken executives stepping in, raising $42 million in capital, and shifting focus toward Solana-powered decentralized infrastructure.

The firm’s bullish bet on Solana is being seen as more than just a financial move—it reflects a broader commitment to Solana's proof-of-stake ecosystem. Since rebranding, DeFi Development Corp has been actively participating in staking activities, further cementing its long-term investment strategy and contributing to the network’s decentralization and security.

In addition to Janover’s investment, another notable institution has been quietly building its Solana exposure. Canada-based SOL Strategies Inc., a publicly traded crypto investment firm, recently added 24,000 SOL to its reserves. With total holdings now exceeding 267,000 SOL—valued at over $30 million—SOL Strategies has demonstrated deep confidence in Solana’s future. What’s particularly interesting is that most of their SOL is delegated to validator nodes, indicating a deliberate effort to participate in governance and support the ecosystem’s long-term growth.

Despite Solana’s strong fundamentals, SOL Strategies’ stock price has lagged behind, dropping over 60% this year. However, their leadership remains unfazed. CEO Leah Wald recently confirmed plans to expand staking operations into other chains like SUI and Monad, signaling a broader multi-chain strategy.

Adding to the institutional buildup, recent on-chain activity points to a resurgence of large individual investors. One whale wallet, dormant for several years, recently acquired 32,000 SOL worth roughly $3.7 million. This wallet had previously purchased Solana at its peak price of $216 and held firm even as prices dipped below $10, suggesting strong conviction in the project’s long-term potential.

From a technical standpoint, Solana continues to look promising. The price recently tested resistance at $145 before pulling back slightly to $139. Support between $136 and $131 remains firm, backed by the 50-day exponential moving average that has consistently provided a base for upward moves. Momentum indicators are still pointing in a positive direction, and if the price can break above $145 with strong volume, analysts are watching for potential targets around $153 and $161.

As other tokens face volatility, Solana seems to be entering a more stable and strategic phase of accumulation. While retail interest has not yet returned in full force, smart money appears to be steadily flowing into SOL behind the scenes. With institutions staking aggressively and whales waking from slumber, this quiet rally could be laying the groundwork for Solana’s next major move.