DeFi Development Corp. (DFDV), a Nasdaq-listed company, has acquired an additional 407,247 Solana (SOL) tokens for approximately $77 million, according to a recent press release. The purchase increases the company’s total SOL holdings to 1.83 million tokens, with a current value of about $371 million.
This latest acquisition was funded by a recent equity raise, with the company noting it still has over $40 million available for future Solana purchases and treasury operations.
The company stated it plans to hold the newly purchased tokens for the long term and will stake them with various validators, including its own, to generate additional yield and support the Solana network’s security. This strategy aims to create earning opportunities for shareholders through both potential SOL price growth and staking rewards.
DeFi Development Corp. is one of several publicly listed firms that have adopted a treasury strategy focused on accumulating Solana. The company’s continued investment is seen by some in the market as an endorsement of Solana’s growth and its potential beyond speculative trading.
The news comes as Solana’s native token has seen a positive trend, with its price increasing by more than 15% over the past week, trading at approximately $211. The Solana community is also currently voting on a proposal, “Alpenglow,” which aims to significantly reduce block finality and improve transaction speeds on the network.
