DeFi Development Corp raises Solana treasury holdings to 999,999 SOL
Quick Take
- DeFi Development Corp. said it raised $19 million through its equity line of credit and purchased 141,383 SOL.
DeFi Development Corp (ticker DFDV), the online real estate firm turned Solana treasury company, said Monday morning it raised $19 million through its equity line of credit and purchased 141,383 SOL at an average price of $133.53.
This brings DeFi Development's total Solana holdings to 999,999 SOL — all of which are staked onchain — valued at approximately $192 million at current prices. Of note, the company said 867 SOL were organically earned between July 14 and July 20.
The company's stock traded higher by 2.8% to $25.10 per share at publication time, according to Yahoo Finance data. The company has a market cap near $475 million.
Amid a corporate rebranding, DeFi Development began purchasing Solana tokens in April after being acquired by former Kraken executives. The success of corporate bitcoin treasures from the likes of Strategy has led to a surge in both BTC and altcoin treasuries.
Upexi recently planned to raise $200 million to expand its treasury to 1.65 million SOL, while BIT Mining pivoted to Solana with a plan to raise up to $300 million. Earlier today, Mercurity Fintech entered into a $200 million equity line of credit agreement with "Solana Ventures Ltd." to launch a Solana treasury.
The price of SOL traded up 8% to $195.95 over the last 24 hours. It is currently the fifth-largest non-stablecoin cryptocurrency with a market cap of $105 billion, according to The Block's data dashboard.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
