DeFi Development Corp is approaching a significant milestone, with nearly one million SOL coins accumulated within its corporate treasury.
The substantial holdings result from strategic acquisitions and staking activities. This includes a recent large-scale purchase totaling $198 million, which incorporated spot buys, locked tokens, and earned staking rewards.
To further bolster its SOL position, the company has successfully raised $19.2 million in dedicated funding. At current market valuations, this provides the capacity to acquire approximately 24,752 additional SOL tokens.
Chief Executive Officer Joseph Onorati highlighted the firm’s treasury approach, emphasizing its focus on monetizing risk and strategically leveraging market volatility and yield generation opportunities.
DeFi Development Corp’s actions reflect a growing institutional interest in Solana. Peer firm Bit Mining also demonstrates this trend, having announced an allocation of up to $300 million specifically for building its own SOL treasury.
This institutional accumulation occurs amidst a notable price surge for the Solana token, which increased approximately 25% over the past week.