Altcoins News

Story: DeFi Development Corp Nears 1 Million SOL as Solana Treasury Strategy Pays Off

By MikeT

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Solana-Only Focus. In a recent appearance on the Thinking Crypto podcast, DeFi Development Corp chairman and CEO…

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More SOL Buys Likely. DeFi Development Corp said it raised $19.2 million in July through the issuance of 740,000 new…

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Stock Reaction Mixed. Despite the rise in Solana’s price and the size of DeFi Development Corp’s latest acquisition, the…

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Staking Strategy Boosts Passive Yield. The immediate staking of each SOL purchase not only supports the Solana network but also generates…

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Conclusion. With nearly 1 million SOL in its treasury and more funding in reserve, DeFi Development Corp is…

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DeFi Development Corp is closing in on a historic milestone: one million Solana (SOL) tokens in its treasury.

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According to the company’s latest statement, the accumulation involved spot buys, discounted locked SOL, and 867 tokens obtained through staking rewards and validator earnings.

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Solana’s price surged over 12% on Monday to cross the $202 level, amplifying the impact of the firm's purchase.

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In a recent appearance on the Thinking Crypto podcast, DeFi Development Corp chairman and CEO Joseph Onorati made it clear that the company intends to stay focused solely on…

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Onorati explained that Solana’s native yield and volatility are key reasons behind the firm’s treasury strategy.

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This isn’t just a passing experiment. Since its rebrand from Janover, a real estate lending tech platform, the firm has been methodically building a substantial Solana treasury.

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DeFi Development Corp said it raised $19.2 million in July through the issuance of 740,000 new shares. With $5 million in cash still available, more SOL acquisitions appear likely.

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The company’s aggressive accumulation strategy stands out at a time when other institutional players are also beginning to look at Solana as a treasury asset.

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Bitcoin mining firm Bit Mining recently announced plans to shift into the Solana ecosystem with an eye on building a $300 million SOL treasury.

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Despite the rise in Solana’s price and the size of DeFi Development Corp’s latest acquisition, the company's stock fell 3.65% on Monday, closing at $23.52.

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