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DeFi Development Corp buys nearly 20,000 SOL, boosting its treasury

The firm acquired about 19,000 SOL at an average price of $98.14 per token, taking its Solana holdings to roughly 2.33 million SOL equivalents.

Reported · Written up by our desk · Altcoins

DeFi Development Corp has resumed adding to its Solana treasury, purchasing roughly 19,000 SOL at an average price of $98.14, according to The Block. The latest buy brings the Nasdaq-listed company’s holdings to approximately 2.33 million SOL and SOL equivalents. The Block reports the purchase was partially funded by DeFi Development Corp’s ZeroStack divestment. The new SOL is expected to be held long-term and deployed through the company’s staking infrastructure. DeFi Development Corp also said in a release that it is designed to provide investors with leveraged exposure to Solana, and the firm pointed to performance as evidence that investors increasingly understand that value proposition, The Block writes. In August, DFDV’s return has been more than twice SOL, and quarter-to-date shares have outperformed SOL by 1.8x. At the time of publication, The Block reports DFDV shares were up 12% to $5.04, valuing the SOL DAT platform at near $160 million. The stock remains down about 5.5% year-to-date, while Solana was up more than 11%.

Latest closeSolana $109.01 ▲6.7%|Nasdaq Comp. 26,130.20 ▼0.1%

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