Sep 22, 2025
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DeFi Development Corp and Fragmetric Labs Launch Korea’s First Solana Treasury
DeFi Development Corp. and Solana-based Fragmetric Labs will establish South Korea's first corporate Solana treasury by acquiring a publicly listed Korean company.
- This initiative aims to expand Solana’s presence in the active South Korean crypto market.
- The announcement was made at the Solana Oriental event during Korea Blockchain Week.
- DFDV has invested $22.88 million in Flora Growth, rebranding to ZeroStack to accumulate Solana.
- DFDV holds over 2 million SOL, valued at nearly $500 million, adding 62,000 SOL recently.
Market Reaction and Analysis
- Solana's price dropped over 7% to $220, with trading volumes increasing by more than 150% as traders took short positions.
- Fragmetric’s governance token, FRAG, saw a 6% increase, trading around $0.043 in volatile conditions.
- Technical analysis indicates resistance between $220 and $260, forming a rising triangle pattern that may lead to bullish continuation.
- If Solana breaks above $260, potential targets include $300 and $380, with a possible retest of highs near $500.
- Analysts suggest Solana’s expanding treasury base, now over $4.3 billion, could drive its price toward $1,000 in the next cycle.
Further details can be found on Coinspeaker.