Publicly Traded DeFi Development Boosts Treasury Holdings To 999,999 SOL As Solana Reclaims $200
Main Idea
DeFi Development, a Nasdaq-listed company, has increased its Solana (SOL) holdings to 999,999 tokens, staking them to earn yield and support the Solana network, while SOL's price surged past $200.
Key Points
1. DeFi Development purchased 141,383 SOL for approximately $19 million between July 14 and July 20, bringing its total holdings to 999,999 SOL.
2. The newly acquired SOL is being staked to earn native yield and help secure the Solana network.
3. SOL's price surpassed $200 for the first time since March, marking a 52% rally over the past month and making it the fifth-largest cryptocurrency by market value.
4. Over 70 companies have adopted crypto treasury strategies, following the trend set by Michael Saylor's Bitcoin accumulation strategy.
5. SOL remains 31% below its all-time high of $293.31 set in mid-January 2025.
Description
DeFi Development, the AI-powered real estate platform turned Solana treasury company, has boosted its SOL stash to just under one million tokens. Between July 14 and July 20, the Nasdaq-listed company purchased 141,383 Solana for roughly $19 million at an average price of $133.53 per coin, according to a Monday statement. Its total stack, which
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