98.27% of SOL stakers that voted approved the proposal, with only 1.05% voting against and 0.36% abstaining. In total, 52% of the network’s stake participated in the vote.
Yunfeng joins companies including SharpLink Gaming and Bitmine Immersion Technologies that have begun pursuing an ether treasury strategy in recent months.
The funding will be used to support SonicStrategy's treasury, validator operations, and blockchain investments, and can convert to common stock at $4.50 per share.
Analyst Mark Palmer reiterated his buy rating and $705 price target on the Michael Saylor-led company, which is more than a double from current levels.
XRP trades around $2.75 after intraday swings, with Martinez warning of a $2.40 downside risk if support fails and outlining a bullish path toward $3.70.
Underlying network activity surged, with daily active wallet addresses on BNB Chain more than doubling to 2.5 million, but transaction volumes have been dropping steadily since late June.