DeFi Development Corp. Now Holds $371M in Solana
DeFi Development Corp. (Nasdaq: DFDV) announced on Thursday that it bought 407,247 Solana (SOL) at an average price of $188.98 per coin. With this purchase, the company now holds a total of 1,831,011 SOL, worth around $371 million at current market prices.
This new purchase increased the company’s Solana holdings by 29% compared to its previous balance. DeFi Dev Corp. also said it still has more than $40 million in cash ready for future Solana buys or other treasury needs.
Like before, the company plans to keep its SOL long-term and stake them using different validators, including its own system, to earn rewards.
The company also shared some key numbers:
- It has about 21 million shares available.
- This equals 0.0864 SOL per share, or about $17.52 in value per share.
- If all shares and warrants are counted (fully diluted), the total share count would be around 31 million. Even then, each share would still represent at least 0.0675 SOL.
Following this announcement, DFDV shares rose more than 9% on the Nasdaq by Thursday afternoon.
