DeFi Development Corp hits 999,999 SOL, Solana soars 12%
Main Idea
DeFi Development Corp has significantly increased its Solana (SOL) holdings to 999,999 SOL, contributing to Solana's price surge, and plans further purchases with remaining funds.
Key Points
1. DeFi Development Corp purchased 141,383 SOL between July 14 and July 20, bringing its treasury holdings to 999,999 SOL.
2. Solana's price surged 12% to over $202, with a 25% increase over the past seven days.
3. The company raised $19.2 million by issuing shares and has $5 million remaining for future SOL purchases, which could buy around 24,752 SOL at current prices.
4. DeFi Development Corp's stock price fell 3.65% to $23.52 on Monday but recovered slightly in after-hours trading to $24.55.
5. Other firms, such as Bit Mining and MemeStrategy, are also investing in Solana, with Bit Mining planning to raise up to $300 million for a Solana token treasury.
Description
DeFi Development Corp CEO Joseph Onorati said the company has no plans to expand its treasury with other crypto. Meanwhile, Solana crossed the $200 mark on Tuesday.
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