DeFi Dev Corp Expands Solana Treasury With $77M Buy as SOL Price Climbs
DeFi Development Corp has once again increased its exposure to Solana, announcing a $77 million purchase that lifted its total holdings to more than 1.83 million SOL. The move pushed the Solana price higher, even as the broader crypto market remained in the red.
$77M Added to Solana Holdings
The company revealed it acquired 407,247 SOL at an average cost of $188.98 per token. With this transaction, DeFi Dev Corp’s Solana balance now sits near $371 million in value. The purchase was financed through an equity raise, leaving over $40 million still available for additional Solana allocations.
Management confirmed the newly purchased tokens will be staked across different validators, including its own infrastructure, to generate yield and strengthen its footprint in the Solana ecosystem.
Solana Price Reaction
Following the announcement, Solana’s price jumped more than 4% in 24 hours, trading around $217 while most of the crypto market slipped slightly lower. The rally also coincides with Solana’s Alpenglow upgrade, a major network improvement designed to reduce block finality times from 12.8 seconds to just 150 milliseconds.
Institutional Interest Rising
The purchase continues a trend of institutions building Solana treasuries. DeFi Dev Corp became the largest publicly traded SOL holder earlier this year, while other firms have started similar accumulation programs. Mercurity Fintech, for example, recently secured a $200 million facility from Solana Ventures to grow its own reserves.
With strong demand from companies and upgrades boosting network performance, Solana continues to solidify its position as one of the most sought-after assets in the crypto space.
Disclaimer: This content does not constitute trading or investment recommendations. It’s essential to conduct your own research before purchasing any cryptocurrency or investing in any services.
