The Flying Giant with Solana Reached the 1 Million SOL Threshold with the Last Purchase!

DeFi Development Corp (DFDV) has created a massive Solana treasure worth approximately $192 million by accumulating a total of 999,999 Solana (SOL) with its new purchase worth $19 million.

As the trend of institutional companies creating altcoin treasuries accelerates in the cryptocurrency market, DeFi Development Corp (DFDV), focusing on decentralized finance (DeFi), continues its investments in Solana without slowing down. Recently, the company added 141,383 SOL to its portfolio through a $19 million loan agreement, bringing its total SOL assets close to 1 million. The company is reported to have a total of approximately $192 million worth of Solana, with purchases made at an average price of $133.53.

DeFi Development generates passive income by directly on-chain staking all the SOL assets it has purchased. The company earned 867 SOL from the assets it staked between July 14-20 alone. The rapid increase in institutional companies investing in cryptocurrencies is leading to significant demand for altcoins like Ethereum and Solana, alongside Bitcoin.

Recently, SOL has caught the attention of institutional companies turning to cryptocurrency treasury strategies and has become the focus of major financial institutions. Previously, Upexi announced that it aimed to reach a total of 1.65 million SOL with $200 million in new funding, while BIT Mining announced that it would increase its Solana assets with a $300 million investment. Today, Mercurity Fintech also signed an agreement with Solana Ventures Ltd. to create a $200 million SOL treasury.

In light of these developments, the price of SOL, which has risen by 8% in the last 24 hours, has reached $195.95, continuing to attract investors' attention. Solana (SOL) ranks as the fifth largest altcoin in the market with a market cap of $105 billion.