First came Michael Saylor with MicroStrategy, launching a Bitcoin treasury. Soon, public firms explored Ethereum, and as of late September 2025, the first Solana treasury is now live in South Korea. Although the launch coincides with SOL USD falling, this development could provide the tailwinds to lift SOL USDT above $250.
At press time, the Solana price is steady but hasn’t been spared the market-wide sell-off. Although the uptrend remains, there needs to be a conclusive close above September highs at around $250. If SOL bulls take charge, SOL USD could extend the gains from early July. According to Coingecko, the Solana price is up a decent +53% in the past year and +10% in the last month of trading.
(Source: Coingecko)
On Coinglass, Solana traders on leading perpetual exchanges are still bullish. For example, the long/short ratio on Binance is above 2.7, suggesting that most traders are bullish and expect SOL USD to shake off recent weaknesses. At the same time, there have been decent inflows on spot exchanges in the past few hours, pointing to possible accumulation at lower prices.
(Source: Coinglass)
While there is accumulation, it remains to be seen whether Solana whales are buying the dip. However, earlier today, DeFi Development Corp. (DFDV), a public company trading on Nasdaq, partnered with Fragmetric Labs, a liquidity restaking platform on Solana, to launch the first Solana Digital Asset Treasury (DAT) in South Korea.
We're extremely excited to announce that Fragmetric Labs and DeFi Development Corp. (NASDAQ:DFDV) will launch the first Solana Digital Asset Treasury in Korea through the acquisition of a Korean publicly-listed company. pic.twitter.com/rzGbVvmEXT
— Fragmetric (@fragmetric) September 22, 2025
To do this, the plan is to acquire a public company in the country and fast-track it for institutional Solana exposure.
As a reverse merger, DFDV will rebrand the entity, while Fragmetric will create a local management team for Solana accumulation.
In exchange for the underlying technology, asset management, and infrastructure support, the Nasdaq firm will receive an equity stake in the new entity while collecting any recurring partnership fees.
DFDV currently owns over 2M SOL and is one of the largest public Solana treasuries. Due to SOL USD exposure, share prices have also ticked higher as shareholders rode the SOL price boom for the better part of Q3 2025. These tailwinds come from incorporating Solana staking yields with revenue from their commercial real estate operations.
(Source: Coingecko)
On the other hand, Fragmetric has been innovating in liquid staking. Presently, it manages over $96M worth of assets, per DefiLlama. DFDV will leverage Fragmetric’s tool for reward distribution, turning inflows into a possible flywheel that will drive SOL USD demand.
(Source: DefiLlama)
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The decision to launch the first Solana DAT in South Korea could pay dividends. South Korea is Asia’s crypto powerhouse, boasting an active retail trading scene and clear crypto laws.
Even so, how fast 
SOL ▼-7.60% rises will depend on other external factors, including whether top cryptos, including Bitcoin, recover and reclaim $115,000 in the coming weeks.
Technically, a close above $250 will be the foundation for SOL USD breaking $300 by the end of Q4 2025.
On X, one analyst said the rejection at $250 was expected. He adds that as long as SOL USD stays above $185, the Solana price is “programmed” for $500.
$SOL – 2W
A rejection at $250 was obvious and expected.
This needs more consolidation time before the next breakout.As long as price is above $185, nothing changed and $500 is programmed.#Solana $SOLUSD pic.twitter.com/jMzQzuFldL
— MM₿ (@MM_BTC) September 22, 2025
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The post First Solana Treasury is Live in South Korea: Will SOL USD Reclaim $250? appeared first on 99Bitcoins.
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