DeFi Development Increases Solana Holdings to $218 Million
DeFi Development (DFDV) increased its holdings of Solana (SOL) to approximately 1.18 million tokens, valued at around $218 million.
- Acquired 181,303 SOL tokens from July 21 to July 28 at an average price of $155.33 per token.
- Purchase funded mainly through proceeds from an equity line of credit.
- Solana-per-share metric (SPS) rose by 12% to 0.0575 for the second consecutive week of growth.
- Issued about 975,000 new shares, raising $20 million; total month-to-date proceeds reached $39 million.
- Approximately $10 million remains allocated for future Solana acquisitions.
- Less than 1% of the $5 billion credit facility has been utilized.
- Newly acquired tokens will be staked across multiple validators to generate rewards and compound holdings.
The company, previously known as Janover, aligns with a trend of publicly-traded firms increasing cryptocurrency assets on their balance sheets.