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DeFi Dev Corp. Acquires Additional 141,383 Solana

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by Giorgi Kostiuk

4 hours ago

DeFi Dev Corp. announced a significant increase in its cryptocurrency holdings with a substantial investment.

Capital and Purchase of Solana

DeFi Dev Corp. announced raising $19 million through an equity line of credit and purchasing 141,383 units of Solana (SOL) at an average price of $133.53 per unit. This brings the company's total SOL holdings to 999,999 units, valued at approximately $192 million at current prices.

Staking Strategy

All of the company's SOL assets are staked on-chain, generating natural returns and contributing to the security of the Solana network. Between July 14th and 20th, the company earned 867 SOL through staking. This creates a reliable passive income stream, adhering to a long-term growth strategy.

Company's Share Dynamics

DeFi Dev Corp. has a total of 19,445,837 shares outstanding, with a reported SOL per share of 0.0514. This represents a 13% increase compared to the previous week, with the value per share reported at $9.30.

The increase in Solana holdings and ongoing staking emphasizes DeFi Dev Corp.'s strategy for sustained long-term growth in the cryptocurrency space.

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