DeFi Development Corporation — formerly Janover — is deepening its crypto pivot with a fresh $11.5 million purchase of Solana (SOL), pushing its total holdings to $34.4 million.
The April 22 acquisition added 88,164 $SOL to the company’s treasury, part of its broader strategy to stake assets and generate on-chain yield. Since the April 7 buyout by former Kraken executives, the firm has quickly rebranded and shifted focus from real estate finance to decentralized finance.
The market responded positively: shares of DeFi Development Corp (JNVR) surged 12.83% following the announcement, according to Google Finance.
This is the firm’s second major SOL buy in April, following a $10.5 million purchase on April 16. The company now holds 251,842 SOL, which it plans to stake for an annual yield of over 8%, capitalizing on Solana’s rapid growth in the staking ecosystem.
The move follows a growing trend of public companies building crypto treasuries. Inspired by Michael Saylor’s Bitcoin play, firms like Metaplanet and Semler Scientific have made similar moves — now, Solana is entering the spotlight as a diversification play.
With Solana recently overtaking Ethereum in staking value — albeit briefly — DeFi Development Corp’s strategy highlights a rising institutional interest in alternative Layer-1 assets beyond Bitcoin.
