DeFi Development Corp. has strengthened its capital allocation strategy with a major increase to its stock repurchase program. The 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 million. This move highlights the firm’s confidence in its long-term strategy, even as Solana faces short-term market challenges.

Repurchase Program Details

The authorization gives management flexibility to repurchase shares of common stock on the open market under prevailing market conditions. According to the press release, the company will have an active threshold of $10 million before updating the Board for further purchases. 

All repurchased stocks will either be retired or held as treasury stock. This flexibility enables the company to adjust its capital management according to market fluctuations while ensuring compliance with regulations.

Besides enhancing shareholder value, the expanded program may help stabilize investor confidence at a time of uncertainty for the digital asset sector. Management has stressed that timing and scale of purchases will be dependent on market, liquidity, and broader corporate priorities.

Solana Price Action and Technical Outlook

While the buyback plan underscores corporate optimism, Solana itself has experienced notable price pressure. As 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 week. Its market capitalization remains substantial at over $111 billion, supported by a circulating supply of 540 million SOL.

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

Source: X

Support levels are clustered between $120 and $200, while resistance at $230–$240 remains critical. A confirmed weekly close above $240 could pave the way toward $300 and higher levels.

Source: https://coinpaper.com/11270/solana-eyes-300-breakout-as-de-fi-development-expands-100-m-buyback

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