Solana (SOL) Price: Market Cap Reaches $111.76 Billion as Galaxy Tokenizes SEC-Registered Shares

Solana’s price remained steady around the $203 mark as major developments unfolded across its ecosystem this week. Most notably, DeFi Development Corporation expanded its treasury holdings while the network saw groundbreaking adoption through the tokenization of SEC-registered shares.

DeFi Development Corp., a Nasdaq-listed company, announced on Thursday the purchase of 196,141 SOL tokens at an average price of $202.76 each.

This latest acquisition brings the company’s total Solana holdings to 2,027,817 SOL, currently valued at approximately $409 million.

The company plans to hold these tokens long-term and stake them across various validators, including their own Solana validators, to generate native yield.

DeFi Development, which trades under the ticker DFDV, adopted a Solana treasury policy in April this year. The company previously operated under the name Janover.

Beyond holding and staking SOL tokens, DeFi Development has built its own validator infrastructure, allowing it to earn staking rewards and fees from delegated stake.

As of September 4, the company reported 25,573,702 total outstanding shares, resulting in a “SOL per Share” (SPS) value of 0.0793. This metric helps investors value SOL treasuries based on their exposure to the company’s share price.

Real-World Adoption Expands

In a separate development highlighting Solana’s growing utility, Galaxy made history by becoming the first public company to natively tokenize SEC-registered shares on the Solana network.

Tokenization continues to accelerate on Solana.

Today, Galaxy tokenized their public equity on Solana via Superstate, marking the first time a public company natively tokenized SEC-registered shares on the network.

More on the news: https://t.co/AuwFz6bvna

— Solana (@solana) September 3, 2025

This tokenization was facilitated through Superstate, a platform built on Solana, marking a major milestone in bringing traditional financial assets onto the blockchain.

The development represents a growing trend of tokenization on the Solana network, potentially expanding its use case beyond cryptocurrency trading.

Solana’s ability to support such high-profile financial applications may contribute to increased investor confidence in the network’s long-term viability.

Market Performance

At press time, Solana (SOL) was trading at $203.90, with a 24-hour trading volume of $13.07 billion and a market capitalization of $111.76 billion.

The token experienced a minor decline of 3.57% over the past 24 hours, part of a broader market adjustment.

Despite this small pullback, market analysts note that SOL has shown resilience following a recent mini sell-off, with buyers returning to push prices back toward the $210 region.

Technical indicators present a mixed picture for Solana. The Relative Strength Index (RSI) sits at 53.58, placing it in neutral territory—neither overbought nor oversold.

The Moving Average Convergence Divergence (MACD) indicator shows some caution signals, with the MACD line at 0.39517 currently below the signal line at 1.76472.

However, crypto analyst BitGuru suggests that if current buying pressure continues, SOL could target the $220-$230 range in the short term.

DFDV shares were down 7.6% to $15.21 as of Thursday’s trading session, possibly influenced by reports that Nasdaq has increased scrutiny of companies raising cash to buy cryptocurrencies.

The price of Solana traded down 3.5% to $202.90 at publication time, according to market data.