Solana's Price Drops 2.542% as Fitell Corporation Secures $100 Million Facility for DeFi Expansion

Solana's latest price was $214.69, down 2.542% in the last 24 hours. Fitell Corporation, a global provider of fitness equipment and health solutions, has secured a $100 million facility to launch Australia's first Solana-based digital asset treasury. The initial $10 million of this facility is allocated for purchasing Solana (SOL), with the remaining funds to be used for diversified DeFi strategies. This move positions Fitell as a pioneer in the Solana DeFi space within Australia. The company, led by CEO Sam Lu, has transitioned into a Solana-centric DeFi entity through convertible notes, aiming to become the largest publicly listed SOL holder in Australia. This strategic direction highlights the evolving landscape of digital asset investments and could influence the dynamics of the DeFi markets on Solana, potentially attracting more institutional investments and impacting derivative protocols. The financial landscape in Australia may see shifts if Fitell's dual listing on the ASX materializes, with regulatory and compliance steps overseen by the BitGo Trust Company ensuring a structured approach to security. Fitell's pivot to Solana DeFi draws parallels to prior corporate digital asset acquisitions, with Solana standing at the forefront of potential implications for its associated DeFi ecosystem.

Forward Industries, a Nasdaq-listed company, is looking to blur the line between Wall Street and Web3 by turning its own equity into a blockchain-based asset. This initiative, developed with fintech firm Superstate through its Opening Bell platform, aims to enable regulated onchain issuance of securities. If implemented, Forward shareholders could shift their stock from traditional brokerage accounts onto Solana, gaining the ability to trade around the clock with near-instant settlement. Forward also envisions new utility for its equity in decentralized finance, working with Drift, Kamino, and Jupiter Lend to have tokenized FORD shares accepted as collateral across Solana’s lending protocols. This experiment could make common stock function like any other digital asset in DeFi markets. The plan underscores Forward’s conviction that Solana will become central to capital markets, following the company’s aggressive Solana strategy, which includes a $1.65 billion PIPE financing backed by Galaxy Digital, Jump Crypto, and Multicoin Capital. This financing established a $4 billion Solana reserve equal to nearly 3% of the token’s supply. Regulatory approval remains a question mark, but the move highlights how some publicly traded companies are beginning to experiment with tokenization not just for outside assets, but for their own shares, potentially reshaping how equity is issued, traded, and used in the years ahead.

Kazakhstan is planning to launch “Evo,” a new stablecoin pegged to its national currency, the Tenge. This project, supported by Solana, Mastercard, and several local organizations, aims to create a cohesive local Web3 industry for the nation. Kazakhstan, which has a history in the crypto industry as an international Bitcoin mining hub, is interested in Web3 and has launched a Bitcoin ETF and pushed for a Crypto Reserve this year. The new stablecoin, Evo (KZTE), will be issued on Solana’s blockchain, with Intebix, a licensed crypto exchange, handling the issuance of KZTE tokens. Mastercard, which has been deepening its Web3 presence, is also a partner in the project. Additionally, a local team of Solana ecosystem builders is contributing to KZTE, with Superteam Kazakhstan aiming to unite local founders and projects to create a thriving local economy. The Eurasian Bank, one of the nation’s largest lenders, also contributes to the project. Together, these actors aim to create more than a stablecoin for Kazakhstan; they want to build a local crypto ecosystem by expanding the crypto-fiat gateway, exchanging digital assets, and supporting transactions via cryptocurrency cards. Ideally, this stablecoin will bridge the gap between TradFi and Web3 in Kazakhstan, with strong commitments from state institutions, major private banks, and international credit card companies.

Raiku, a company focused on bringing predictability, precision, and exponential compute to Solana, has raised $13.5 million in funding. The investment highlights include a $11.25 million Seed round led by Pantera Capital, with participation from Jump Crypto, Lightspeed Faction, Reciprocal Ventures, Initial Ventures, and Hashkey Capital. The $2.25 million Pre-Seed round was co-led by Figment Capital and Big Brain Holdings, with support from Reciprocal Ventures and Anagram. Raiku is also backed by angel investors from leading companies such as Anza, Superteam, DoubleZero, Jupiter, Sanctum, and Renaud Partners, as well as notable individuals including Anatoly Yakovenko, Austin Federa, Kash Dhanda, and Julien Bouteloup. Raiku has announced key investments and partnerships with trusted validators in crypto, including Figment, Kiln, Everstake, Staking Facilities, Blockdaemon, Chorus One, H2O Nodes, and others. Raiku’s novel architecture sets new ground rules for how distributed networks operate and how users and applications are built, enabling the certainty necessary for institutional execution. The funding will be used to develop Raiku’s core technology, creating a new blockchain backbone for institutional trading, real-time payments, and compliance-sensitive services that depend on precision and predictability. Raiku’s performant block building architecture uses the same validators that already secure Solana to ensure guaranteed block inclusion, offering certainty for app developers and users that their transactions will land in times of high stress. This architecture introduces a two-sided execution marketplace and blockspace market that aligns incentives for developers, validators, and institutions, allowing for sub-30ms pre-confirmations and the ability to pre-book blockspace up to 60 seconds in advance. Validators gain new non-MEV revenue streams by running the lightweight Raiku Sidecar, helping them go from passive block producers to selling predictable and/or tailored blockspace directly to builders. Institutions can operate with greater execution certainty, allowing them to invest in on-chain infrastructure, such as pilot settlement networks for regulated exchanges, real-time payment systems with deterministic finality and compliance reporting, and liquidity platforms that depend on sub-100ms execution for market-making and arbitrage. Raiku unlocks the design space for apps that want to behave like financial infrastructure, which is fast, programmable, and built for institutional scale.

Institutional adoption of Solana is advancing, highlighted by significant treasury allocations and major acquisitions. Reports indicate that major tech firms and investment entities are deploying substantial capital into Solana's ecosystem. Galaxy Digital notably acquired approximately $306 million worth of Solana, while Helius Medical allocated a significant portion of its treasury holdings, valued at roughly $167 million, to SOL. This trend signals growing confidence in Solana as a strategic reserve asset among institutional players.

Network activity on Solana is exhibiting positive momentum. Observers note a notable surge in capital inflows as of September 2025. This coincides with increased transaction volumes attributed to significant holders, often referred to as whales. Furthermore, development within Solana's decentralized finance (DeFi) sector continues to progress, contributing to the overall bullish sentiment surrounding the network's capacity growth and utility.