DeFi Development Corp has boosted its SOL holdings to over 2 million tokens due to active accumulation. This acquisition strategy has significantly impacted the company’s financial growth.
Aggressive Acquisition Strategy
The latest addition was just under 200,000 SOL, purchased at an average price of $202.76. This follows a much larger buy of $77 million worth of Solana at the end of August, coinciding with the closing of a $125 million equity raise. Together, these acquisitions have doubled the size of the firm’s SOL reserves in just six weeks. Management claims the new holdings will be staked, turning idle assets into a steady source of yield.
Volatility of Shares and Bullish Outlook
While the company’s treasury has expanded, its stock price has swung sharply. Shares of DeFi Development Corp (DFDV) slid 7.6% on Thursday to $15.21 before clawing back a small gain in after-hours trading. Despite those short-term losses, the stock remains up an eye-popping 1,710% this year. Analysts at Cantor Fitzgerald continue to back the rally, giving DFDV an “overweight” rating and a $45 price target.
Historical Achievements of Solana
The company’s bullish stance comes as Solana itself hits historic milestones. Asset manager Bitwise pointed out that Solana has now surpassed $100 billion in market capitalization — a feat achieved in less than five years. For perspective, tech giants Google and Meta took seven and nine years respectively to cross the same threshold.
Thus, DeFi Development Corp is not only increasing its SOL holdings but is also positioning itself as a key player in the Solana ecosystem, potentially giving it a competitive edge as institutional interest in yield-bearing crypto assets grows.
