Nasdaq-listed DeFi Development Corp, formerly known as Janover, continues to raise Solana (SOL).
Following the tactic of MicroStrategy, the largest institutional Bitcoin bull, DeFi Development announced that it purchased 172,670 SOL worth $23.6 million at an average purchase price of $136.81.
With the latest acquisition, the company’s SOL holdings increased to 595,988 SOL, worth $102.7 million.
“The latest acquisition marks the 10th Solana acquisition within DeFi Development’s digital asset treasury strategy and the largest to date.
As with all previously purchased tokens, the most recently purchased SOL will be held long-term and deposited into various validators, including DeFi Dev Corp.’s own Solana validators, to generate local yields.
However, we will continue to purchase new Solanas.”
The company, previously known as Janover, rebranded in mid-April as DeFi Development Corp. At that point, the company had been taken over by former Kraken executives and restructured to focus on Solana while rebranding as DeFi Development Corp.
Solana, which has gained 25% in the last week, continues to trade at $183 at the time of writing.
*This is not investment advice.
