Solana Eyes $300 Breakout as DeFi Development Expands $100M Buyback

DeFi Development ￰0￱ strengthened its capital allocation strategy with a major increase to its stock repurchase ￰1￱ company, which is known for pioneering a treasury model centered on accumulating Solana (SOL), announced that its Board of Directors has expanded its existing buyback authorization from $1 million to $100 ￰2￱ move highlights the firm’s confidence in its long-term strategy, even as Solana faces short-term market ￰3￱ Program Details The authorization gives management flexibility to repurchase shares of common stock on the open market under prevailing market ￰4￱ to the press release , the company will have an active threshold of $10 million before updating the Board for further ￰5￱ repurchased stocks will either be retired or held as treasury ￰6￱ flexibility enables the company to adjust its capital management according to market fluctuations while ensuring compliance with ￰7￱ enhancing shareholder value, the expanded program may help stabilize investor confidence at a time of uncertainty for the digital asset ￰8￱ has stressed that timing and scale of purchases will be dependent on market, liquidity, and broader corporate ￰9￱ Price Action and Technical Outlook While the buyback plan underscores corporate optimism, Solana itself has experienced notable price ￰10￱ of press time, the token trades at $205.50 , marking a 2.29% decline in the past 24 hours and nearly 17% over the past ￰11￱ market capitalization remains substantial at over $111 billion, supported by a circulating supply of 540 million SOL.

However, technical analysis suggests a potential turning ￰12￱ to market analyst Trader Tardigrade, Solana is forming a giant Wyckoff re-accumulation pattern on the weekly ￰13￱ structure, lasting over 640 days, indicates that Solana may be preparing for a decisive breakout.