
tl;dr
DeFi Development Corporation, a Nasdaq-listed AI-powered real estate platform, purchased 172,670 Solana (SOL) tokens for about $24 million at an average price of $136.81, increasing its total holdings to nearly 600,000 SOL valued at around $105 million. Since starting to buy Solana just over a month...
DeFi Development Corporation recently purchased 172,670 Solana (SOL) tokens for approximately $24 million, raising its total holdings to nearly 600,000 SOL valued at around $105 million.
This acquisition marks the company's 10th Solana purchase in just over a month, reflecting an aggressive accumulation strategy that began in early April.
The Nasdaq-listed firm, originally named Janover, rebranded to highlight its new crypto focus and acquired a Solana validator business to stake its tokens. This move aims to secure the Solana proof-of-stake network while generating native yield.
As a result of these strategic developments, DeFi Development Corporation’s shares have surged 74% over the last month and more than 1,700% year-to-date.
Additionally, the company plans a 7-for-1 stock split this month to improve liquidity and make shares more accessible to investors.
Meanwhile, Solana’s price has experienced a recent jump of nearly 22% to $175, though it still trades about 40% below its January all-time high, maintaining its position as the sixth-largest cryptocurrency by market capitalization.