DeFi Development Corp, listed on Nasdaq, has significantly increased its Solana treasury with its recent $198 million purchase.
Company’s Treasury Growth
DeFi Development Corp reported that its acquisition of 141,383 Solana tokens between July 14 and July 20 has boosted its treasury to 999,999 tokens. The acquisition included spot purchases, discounted locked SOL, and tokens earned through staking.
Market Reaction to Recent Acquisition
Following the recent acquisitions, the price of Solana jumped 12%, exceeding $202, positively impacting the market. In the past week, the token rose over 25%.
Future Plans of DeFi Development Corp
The company stated it has $5 million available for future SOL purchases. Furthermore, Chairman and CEO Joseph Onorati confirmed that the company does not plan to expand into other cryptocurrencies in the near future.
In conclusion, DeFi Development Corp is actively pursuing asset growth centered around Solana while exploring further investment opportunities.
