DeFi Development Corp, a company listed on Nasdaq, has recently made a big $SOL acquisition. With the latest buyout of up to 172,670 Solana ($SOL) tokens, the total holdings of DeFi Development Corp have surpassed the crucial $100M mark. This development denotes a key move in the platform’s journey to becoming a prominent player in the DeFi world.
DeFi Development Corp Purchase Raises Cumulative Holdings above $100M Mark
The exclusive Solana ($SOL) buyout by DeFi Development Corp amounts to nearly $23.6M. As a result of this acquisition, the platform’s Solana holdings account for approximately 595,988 $SOL tokens. This figure denotes nearly $100M in total value.
This serves as a landmark achievement, highlighting the platform’s aggressive endeavors to advance in the DeFi and digital asset sectors. As per the DeFi Development Corp, at the time of this acquisition, the average $SOL price was almost $136.81.
DeFi Corp Expands Solana Treasury with $23.6M Acquisition
Based on this, the current acquisition deal is the 10th major buyout carried out by the platform. The development takes place close behind a $24M private placement that was accomplished on Tuesday. The event is intended to back additional $SOL buyouts and improve liquidity within the broadening crypto treasury of the platform. With these efforts, the platform is shifting from a conventional tech business into a blockchain-focused entity.
Apart from this, the platform also has several exclusive initiatives to increase its engagement with the Solana ecosystem. This takes into account a $3.5M deal to buy a Solana validator entity. Overall, DeFi Development Corp’s latest $23.6M $SOL acquisition highlights that the platform is continuously increasing the liquidity for the holders. While moving further, the company continues to broaden its treasury with $SOL to fuel the wide-level institutional adoption.
