Solana Faces Market Volatility Despite $5B Treasury Expansion Plan

Solana (SOL) experienced a significant 10% drop in value on June 13, 2025, despite the announcement of a ambitious $5 billion treasury expansion plan by DeFi Development Corporation. The Nasdaq-listed firm, which recently withdrew a previous $1 billion SEC filing, has partnered with RK Capital Management to secure funding through a flexible equity line of credit. This strategic move aims to bolster SOL''s treasury while allowing gradual share sales during favorable market conditions. The market''s reaction highlights the ongoing volatility in the cryptocurrency sector, even as major developments unfold. This article delves into the details of Solana''s latest financial maneuvers and their potential implications for the future of the SOL ecosystem.

Solana Slides 10% Despite $5B Treasury Boost Plan

Solana (SOL) tumbled 10% on Thursday even as DeFi Development Corporation unveiled ambitious plans to secure a $5 billion equity line for SOL treasury expansion. The Nasdaq-listed firm''s strategic pivot follows its withdrawal of a previous $1 billion SEC filing.

RK Capital Management will provide the funding through a flexible equity line of credit, allowing gradual share sales during favorable market conditions. "Unlike other equity offerings, an ELOC enables DeFi Development Corp. to raise capital gradually, when it''s strategically advantageous," the company stated.

The market''s bearish response highlights investor skepticism about large-scale treasury maneuvers during current volatility. Solana''s price action defied typical expectations for positive news absorption, suggesting deeper market headwinds.

SOL-Based NFT Marketplace ''Solsniper'' to Shut Down NFT Products While Company Continues Operations

Solana NFT marketplace Solsniper announced the closure of its NFT-related products, including delisting NFTs and removing bids, effective June 13, 2025. The platform, which began as an analytics tool for NFT traders, expanded over 3.5 years to include a mobile app, aggregator, and marketplace.

CEO clarification followed initial confusion, emphasizing the company itself isn''t shutting down—only its NFT vertical. ''We don''t plan to stop building anytime soon,'' the team stated, hinting at future projects while preserving rewards leaderboard data for potential incentive programs.