EXCLUSIVE: DeFi Development Makes Record Solana Purchase, Surpasses $100 Million In Treasury Holdings

DeFi Development Corp DFDV announced on Monday that it had purchased 172,670 Solana SOL/USD at an average purchase price of $136.81, valued at approximately $23.6 million.

This marks the company's 10th Solana purchase under its digital asset treasury strategy and its largest purchase.

DeFi Development Corp now holds 595,988 SOL, valued at approximately $102.7 million, including staking rewards.

Also Read: DeFi Development Corp Expands Digital Asset Portfolio, Holds $58.5 Million In Solana Tokens

As of May 12, DeFi Development had 2.04 million total outstanding shares. The SOL per Share (SPS) was 0.293, or $50.42.

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As with all previously purchased tokens, the most recently purchased SOL will be held long-term and staked to various validators, including DeFi Dev Corp's own Solana validators, to generate native yield.

Price Action: DFDV stock traded higher by 12% to $84 premarket at the last check on Monday.

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Photo: Lee Wa Da via Shutterstock