DeFi Development Nears 1 Million Solana In Treasury – Crypto News

Nasdaq-listed firm DeFi Development Corp is now just one token away from crossing a million Solana in its treasury after its latest $198 million buy.

In a statement on Monday, DeFi Development Corp said its purchase of 141,383 Solana (SOL) between July 14 and July 20 had grown its treasury to 999,999.

The recent acquisition included spot purchases, discounted locked SOL, and 867 tokens earned through staking, validator revenue, and “other onchain activity,” according to DeFi Development Corp.

“All newly acquired SOL is being staked immediately, earning native yield while helping secure the Solana network,” the firm said in an X post on Monday.

DeFi Development Corp’s latest Solana acquisition came on Sunday and has already paid off as of Monday, with Solana jumping 12% to over $202, Nansen data shows.

In the last seven days, the token is up over 25%.

More purchases likely incoming

Month-to-date, DeFi Development Corp said it raised $19.2 million in net proceeds by issuing 740,000 shares of common stock. The company said it still had $5 million available for future SOL purchases.

At current prices, $5 million could purchase at least another 24,752 SOL.