TLDR
- DeFi Dev Corp now holds 1.83M SOL after purchasing 407K tokens for $77 million.
- The recent purchase was funded through an equity raise with $40M still unused.
- Solana rose over 4 percent to $217 while the broader crypto market fell 0.12%.
- The Alpenglow upgrade aims to cut Solana’s block finality to 150 milliseconds.
DeFi Development Corp has increased its position in Solana with a new $77 million purchase, making it one of the largest institutional holders of SOL. This move has lifted Solana’s price above $217, even as the broader crypto market recorded slight losses. The company’s growing investment signals continued institutional interest in the Solana ecosystem and has strengthened its long-term position in the network.
DeFi Dev Corp Purchases Over 400K SOL Tokens
DeFi Development Corp (Nasdaq: DFDV) announced the acquisition of 407,247 SOL tokens, valued at approximately $77 million. The purchase was made at an average price of $188.98 per token. This transaction increased the firm’s total holdings to 1,831,011 SOL, now valued around $371 million based on current market prices.
The purchase was funded through a recent equity raise. The company revealed that $40 million in capital remains available for more Solana acquisitions. The latest move represents a 29% increase in holdings from its earlier total of 1.42 million SOL.
According to the company, the newly purchased tokens will be staked with multiple validators, including DeFi Dev Corp’s in-house infrastructure. This will support yield generation while deepening its engagement with Solana’s staking network.
The company disclosed a current SOL-per-share ratio of 0.0864, which equals about $17.52 using current prices. Even after recent equity-related dilution, the firm expects its per-share Solana value to stay above earlier levels.
Institutional Activity Boosts Solana Price
Following the news of DeFi Dev Corp’s purchase, Solana’s price rose over 4% in the past 24 hours to $217.08. This increase came while the broader crypto market recorded a small decline of 0.12%, based on market data.
The rally is partly attributed to strong institutional activity. Other firms are also adding to Solana treasuries. For instance, Mercurity Fintech, another Nasdaq-listed company, secured a $200 million credit facility from Solana Ventures to begin its own SOL accumulation program.
Three unnamed firms are also planning to raise $1 billion to create what could become the largest Solana treasury to date. Cantor Fitzgerald is said to be the lead banker supporting that effort.
The growing interest from public firms and institutions reflects broader adoption of Solana, especially after recent upgrades to its network performance.
Network Upgrades Support Market Momentum
In addition to the treasury activity, Solana’s Alpenglow upgrade is contributing to renewed confidence in the asset. This upgrade aims to lower block finality times from 12.8 seconds to 150 milliseconds, increasing the speed of transactions on the network.
The update has entered the governance vote phase across epochs 840 to 842. It has been credited with helping the token move past the $200 mark in recent weeks.
Technically, SOL regained its 7-day simple moving average at $201.56. It also broke past a key pivot level at $210.83. Analysts watching price charts say if support holds above $220, there is room for further gains.
With staking expansion, treasury accumulation, and network improvements, Solana continues to attract institutional interest even during mixed market conditions.
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