$SOL Strategies, DeFi Dev Corp Scoop Over 200,000 $SOL
Solana whales are showing no signs of slowing down after two entities waded in to scoop significant amounts of SOL tokens.
SOL Strategies and DeFi Dev Corp have increased the size of their holdings by a combined 200,000 SOL.
Canadian investment firm SOL Strategies has announced the purchase of 122,524 SOL to continue its accumulation spree of the Solana native token.
According to a press release, Sol Strategies acquired its latest tranche at an average price of $148.96 per token, splurging $18.2 million on the purchase.
The latest purchase follows the unveiling of a $500 million convertible note to buy SOL at the end of April.
Per the company statement, the purchase is the first tranche flowing from the $500 million raise, with the company hinting at a future accumulation.
The company CEO disclosed that the purchases will bring it one step closer to the goal of investing in Solana-based technology. Consequently, SOL Strategies’ total holdings stand at 391,782 SOL, valued at $55.6 million at current prices.
Publicly traded firm DeFi Dev Corp is matching the appetite of SOL Strategies to acquire 82,404 SOL. The company announced the purchase via a press release, splurging $11.2 million on the purchase.