DeFi Growth Corp. Expands Solana Holdings, boosting Investor Confidence
Corporate interest in Solana is on the rise. DeFi Development Corp. has announced the addition of more Solana tokens to its portfolio. On July 3, the company revealed it purchased 17,760 SOL tokens, valued at $2.72 million. This acquisition increases its total SOL holdings to 640,585, worth about $98.1 million.
The tokens were bought at an average price of $153.10 each. this move is part of the company’s long-term accumulation strategy. The newly acquired tokens will be staked across various validators, including its own infrastructure, to generate on-chain yield.
DeFi Development Corp. is now one of the largest public holders of SOL. The firm’s stock price rose by 17% after the declaration, showing positive investor response. The company now holds 0.042 SOL per share, or roughly $6.65 in SOL-backed value per share. This strategy reinforces its position in the Solana ecosystem. The company was the first to adopt a Solana-native treasury strategy. It operates validator infrastructure and participates in the broader Solana ecosystem. Learn more here.
DeFi Development Corp. is not alone in its Solana investment. Upexi, a Nasdaq-listed company, has become the largest Solana treasury company. it plans to tokenize its shares on the Solana blockchain for 24/7 trading and real-time settlement. Sol Strategies Inc. also aims to expand its Solana holdings.
The growing corporate interest in Solana is reflected in the token’s price. SOL has climbed 7% over the past week, trading around $151. Despite a 2.7% dip in the past 24 hours, the price marks a recovery from its month-long slump. This trend indicates growing confidence in Solana’s long-term value among traditional corporate players.
- DeFi Development Corp. now holds 640,585 SOL tokens.
- Upexi has boosted its holdings to 735,692 SOL.
- Sol Strategies Inc.currently holds 40,000 SOL.
