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DeFi Development Corp adds 172,670 SOL, boosting total holdings over $100 million

DeFi Development Corp adds 172,670 SOL, boosting total holdings over $100 million

The BlockThe Block2025/05/12 16:00
By:By Timmy Shen

Quick Take The Nasdaq-listed firm said it purchased 172,670 SOL, boosting its total holdings to 595,988 SOL. The company also recently completed a $24 million private placement to fund additional Solana purchases.

DeFi Development Corp adds 172,670 SOL, boosting total holdings over $100 million image 0

DeFi Development Corp., a real estate software firm that has shifted its focus to building a Solana-focused treasury, purchased 172,670 SOL, worth roughly $23.6 million, bringing its total Solana holdings to over $100 million.

The company announced Tuesday that it made the latest Solana purchase at an average price of $136.81, marking its 10th acquisition. It now holds a total of 595,988 SOL, worth about $102.7 million, including staking rewards.

The purchase follows its $24 million private placement , which closed Tuesday. The company said it plans to use the proceeds for general corporate purposes, including "continued accumulation of Solana."

DeFi Development Corp., formerly known as Janover, rebranded and shifted its focus to crypto after a team of former Kraken executives acquired a majority stake in the company in April.

As part of its Solana push, the company announced last week that it had agreed to acquire an undisclosed Solana validator business for $3.5 million, enabling it to self-stake its SOL holdings.

The company's stock closed up 2.53% on the Nasdaq on Tuesday and rose 5.67% in after-hours trading, according to Yahoo Finance. It changed its ticker to "DFDV" from "JNVR" earlier this month.

Solana's price rose 6.7% to $180.3 at press time, according to The Block's SOL price page . It has a market capitalization of $93.6 billion, making it the sixth-largest cryptocurrency.


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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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