Crypto Journalist
Amin Ayan
Crypto Journalist
Amin Ayan
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DeFi Development Corp has added another 196,141 Solana (SOL) to its treasury, spending nearly $39.76 million to expand its stake in the fast-growing blockchain.
Key Takeaways:
- DeFi Development Corp has doubled its Solana holdings to over 2 million SOL, now worth approximately $412 million.
- The firm is funding its purchases using a $5 billion equity line, with just 0.4% tapped so far.
- Despite rapid accumulation, DFDV shares are down 57% from their peak but remain up 1,710% year-to-date.
The purchase brings the firm’s total holdings to just over 2.02 million SOL, now valued at approximately $412 million.
According to Thursday’s announcement, the company acquired the tokens at an average price of $202.76 and plans to stake the entire amount to generate yield.
DeFi Development Corp Doubles SOL Holdings After $125M Raise
The move follows a $77 million SOL buy last week on the same day the company closed a $125 million equity raise. DeFi Development Corp’s SOL holdings have now doubled since July 21.
Despite the aggressive accumulation, shares of DFDV fell 7.59% on Thursday to close at $15.21, before recovering slightly in after-hours trading to $15.36, per Google Finance.
The stock remains up 1,710% year-to-date, but is still trading 57% below its May 22 peak of $35.53.
The first publicly listed company to build its treasury strategy entirely around Solana, DeFi Development Corp. has been on a steady accumulation path throughout 2025.
In July, it reached the symbolic milestone of holding 1 million SOL after purchasing 141,383 tokens for around $19 million.
To fund acquisitions, the firm is drawing from a $5 billion equity line of credit, though only 0.4% has been used so far.
In its June quarter report, the company posted a 350% increase in revenue year-over-year and a 525% jump in net profit margin.
In the same month, Cantor Fitzgerald began coverage on DFDV with an “overweight” rating and a $45 price target.
Meanwhile, Solana itself continues to attract investor interest.
Galaxy, Jump, and Multicoin Plan $1B Solana Treasury Bet
As reported, Galaxy Digital, Jump Crypto, and Multicoin Capital are in talks to raise around $1 billion to build the largest Solana treasury to date.
Bloomberg reported that Cantor Fitzgerald has been tapped as the lead banker, with the Solana Foundation backing the deal, which could close in early September.
The plan involves taking over a publicly traded company and converting it into a digital asset treasury vehicle dedicated to Solana.
Likewise, Pantera Capital is preparing to raise as much as $1.25 billion to transform a Nasdaq-listed company into “Solana Co.,” a public vehicle built to accumulate Solana (SOL) as a treasury asset
The plan reportedly involves an initial $500 million raise, followed by $750 million through warrants.
If completed, it would mark one of the largest dedicated efforts to create a public Solana treasury vehicle.
The move follows Pantera’s disclosure earlier this month that it has already deployed about $300 million into digital asset treasury (DAT) firms.
Asset manager Bitwise recently noted that Solana had reached a $100 billion market cap in under five years, faster than legacy tech firms like Google and Meta, which took seven and nine years, respectively.
SOL has gained 26.2% in the past 30 days and is up 54.5% year-on-year, according to CoinGecko, with staking yields and corporate interest providing fresh tailwinds for the ecosystem.
