Solana Treasury Firm Expands Holdings with $2.7M SOL Purchase
DeFi Development Corp. has acquired $2.7 million worth of Solana (SOL), boosting its treasury strategy. The firm now holds 640,585 SOL, valued at $98 million, reflecting strong confidence in Solana’s long-term potential.
Stock Performance and Strategic Growth
The announcement propelled DeFi Development Corp.‘s stock by 17%, extending its year-to-date rally to 2,733%. Despite this surge, shares remain 33% below May’s peak. The company plans to raise $112.5 million through private placements, allocating part for additional SOL acquisitions to support sustained growth.
Navigating Regulatory Hurdles
Earlier this year, the SEC halted a $1 billion investment filing due to incomplete documentation. Undeterred, DeFi Development Corp. continues its long-term strategy, including staking SOL holdings for yield. This approach showcases the firm’s adaptability in the dynamic cryptocurrency market.
