BlockBeats news, on May 12, the real estate technology company DeFi Development (DFDV), listed on NASDAQ, announced the purchase of 172,670 SOL at an average price of $136.81, with a total value of $23.6 million. This is the largest purchase since it shifted to the crypto space last month. The Florida-based company currently holds 595,988 SOL, valued at nearly $105 million at current prices.
The company stated that these tokens will be held long-term and staked through multiple validators, including its own, to earn staking rewards. DeFi Development's updated exposure per share is now 0.293 SOL, equivalent to about $50.42 per share.
On Monday morning, the company's stock price soared 20% to $90, adding to last Friday's 30% increase, reflecting the rise in cryptocurrency prices over the past few days. SOL has risen more than 20% in the past week, reaching $180 for the first time since February.
This move reflects a growing trend of publicly listed companies incorporating cryptocurrencies into their balance sheets, following the strategy of Michael Saylor (MSTR).
