DeFi Dev Corp Boosts SOL Holdings to $98M with $2.7M Accumulation
DeFi Development Corp Boosts Solana Holdings with Major Acquisition
DeFi Development Corp Expands SOL Treasury
On Thursday, DeFi Development Corp (DFDV), based in Florida, made headlines by significantly increasing its treasury of Solana (SOL) tokens. The company purchased an additional 17,760 SOL tokens for approximately $2.72 million, acquiring them at an average price of $153.10 each. This strategic investment aligns with DFDV’s long-term goal of enhancing its SOL assets and maximizing staking rewards.
Total Holdings and Share Value
With this latest acquisition, DeFi Development Corp’s total SOL holdings now amount to 640,585 tokens and equivalents, translating to a total value of about $98.1 million. Given the company’s last reported figure of 14,740,779 shares outstanding, the current SOL-per-share (SPS) is calculated at 0.042, equating to roughly $6.65 per share based on the day’s trading data.
Staking Strategy and Contribution to Solana
All newly acquired SOL tokens will be staked across various validators, including those operated by DeFi Development Corp itself on the Solana network. This strategy not only allows the company to earn native yield through staking rewards and validator fees but also plays a crucial role in enhancing Solana’s decentralization and operational stability.
Pioneering Public Company in Solana Investment
DeFi Development Corp has distinguished itself as the first publicly traded company to focus its treasury strategy around Solana. In addition to accumulating and staking SOL, the firm is actively exploring decentralized finance (DeFi) opportunities and participating in the Solana ecosystem. This treasury strategy provides shareholders with direct economic exposure to SOL while fostering the development of applications on the Solana platform.
Current Market Performance of SOL
As of the latest updates, SOL is trading at approximately $150.75, reflecting a 1.6% decrease over the past 24 hours, according to CoinDesk Research’s technical analysis. In contrast, the broader cryptocurrency market, represented by the CoinDesk 20 Index (CD20), has seen a slight increase of 0.13% during the same timeframe.
Technical Analysis Insights
- SOL experienced a trading range between $156.28 and $150.04 from July 2 at 17:00 to July 3 at 16:00, indicating a volatility of 4.15%.
- A strong resistance level was established at $156 during early trading, with above-average volume leading to a price reversal.
- The price fell below a critical support level of $152 between 12:00 and 15:00, settling at $150.44.
- In the last trading hour (15:16–16:15 UTC), SOL saw a decline of 0.63%, dropping from $151.85 to $150.89.
- A notable selloff occurred at 15:35 UTC, with the price plunging to $150.44 on high trading volume (213.6K).
- Support was observed at $150.35, accompanied by increased buying activity and a modest recovery in the closing minutes.
Disclaimer
This article includes content generated with AI tools and has been reviewed by our editorial team to ensure accuracy and compliance with our standards. For further details, please refer to CoinDesk’s comprehensive AI Policy.
