DeFi Development, a Nasdaq-listed company focused on a Solana-based crypto treasury strategy, has expanded its SOL holdings to roughly 1.18 million tokens, valued at around $218 million. Between July 21 and 28, the firm acquired 181,303 SOL at an average price of $155.33 per token, including locked assets.
The purchase was primarily funded by proceeds from its equity line of credit. This latest acquisition pushed its Solana-per-share metric up by 12% to 0.0575—marking the second straight week of double-digit SPS growth.
DFDV also issued around 975,000 new shares during the week, raising $20 million, with $10 million still reserved for future SOL purchases. The company has used less than 1% of its approved $5 billion credit line.
Most of the new SOL tokens will be staked across multiple validators, including its own, to earn rewards. DeFi Dev joins other public firms adopting aggressive crypto treasury strategies.
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