DeFi Advancement Expands Solana Stakes with Big New Buy
DeFi Development Corp. is bulking up its Solana asset. The company bought 110,000 SOL tokens last week for roughly $22 million.
This move pushes its total Solana holdings to 1.42 million SOL, now valued at $273 million. ItS a meaningful jump since mid-July when the company owned less than a million SOL.
One key result of this buying spree? DeFi Dev corp’s Solana-per-share metric climbed 9% to 0.0675. This metric shows how much Solana each shareholder owns indirectly.
But why all the excitement over Solana? It’s simple: increased Solana means bigger returns for investors. The company promptly stakes its new Solana, earning more SOL automatically. It’s like having a savings account that compounds interest.
DeFi Development Corp. backs these big buys with a $5 billion credit line. They’ll spend this on Solana when prices look good. At today’s rates, that budget could get them 27 million SOL.
The strategy seems to be working. The Solana-per-share metric climbed 48% in the last month alone. now, shareholders are sitting pretty.
