DeFi Development invests 16 million dollars in Solana
16:00 hours ▪ 4 min read
DeFi Development Corp. has reached a new milestone. The company, which is listed on Nasdaq, has injected an additional 16 million dollars into its Solana reserves, consolidating its position as one of the largest institutional holders of the cryptocurrency SOL.
In Brief
DeFi Development Corp. has just acquired 86,307 additional SOL tokens for 16 million dollars, at an average price of 110.91 dollars per token.
The company's total reserves now exceed 2 million SOL, valued at approximately 426 million dollars.
This move places DeFi Development among the top five public shareholders of Solana, although Forward Industries retains the top spot with nearly 7 million tokens.
Development continues to invest heavily in Solana
DeFi Development Corp. does not hide its ambitions. The company, which trades under the symbol DFDV, has just announced the acquisition of 86,307 additional SOL tokens, raising its portfolio to over 2 million tokens.
This transaction, made at an average price of 110.91 dollars per unit, represents an investment of 16 million dollars and increases the company's reserves by almost 5%.
This massive accumulation strategy resembles MicroStrategy's Bitcoin strategy, but applied to the Solana ecosystem. The company, founded this year by former Kraken executives, bets on the blockchain, recognized for its speed and low fees.
$DEFI