The firm listed by NASDAQ Defi Development Corp is just a token far from crossing a million Solana in his treasury ark after the latest $ 198 million purchase.
In a statement on Monday, the Defi Development Corp Says Its purchase of 141,383 solana (Sol) Between July 14 and July 20, this ark grew in 999,999.
Recent acquisition includes spot purchases, discount -locked Sol, and 867 tokens achieved by stakingValidator income, and “other onchain activities,” according to Defi Development Corp.
“All the newly acquired SOL is stuck immediately, earn a native produce while helping the Solana network selection,” the firm Says To an x post on Monday.
Solana’s latest acquisition of the Defi Development Corp arrived on Sunday and paid until Monday, that Solana jumped 12% to over $ 202, Nansen data shows.
In the last seven days, the token has risen to more than 25%.
Many more purchases that are likely to come in
Month-to-date, the Defi Development Corp said it raised $ 19.2 million in the net proceeds by the release of 740,000 sharing of standard stock. The company said it still has $ 5 million available for future SOL purchases.
At current prices, $ 5 million can buy at least another 24,752 sol.
In a June 25 phase of The Thinking Crypto Podcast, Chairman of Defi Development Corp Chairman and CEO Joseph Onorati Says The company has no plans to extend to any other crypto for the “predictable future.”
He added that they chose SOL for Treasury because of its native yield and volatility, which he said that the “main ingredient” in the success of the ark’s strategy companies because “ultimately volatility will get monetized for the benefit of shareholders by replacing debt financing.”
Related: The release of the Franchise led by Sol Treasury launches with Kraken, Pantera Support
Defi Development Corp, former Janover, is primarily a company in real estate financing It used an AI-powered online platform that connects lenders and commercial ownership consumers. The firm made The first SOL purchase of 2,858 tokens on April 8th.
The latest acquisition and Solana’s rally failed to boost the price of Defi Development Corp stocks that dropped 3.65% on Monday to trade at $ 23.52. However, it recovered slightly at the after -time trade at $ 24.55.
Other companies also create Solana Treasury
Bitcoin mining firm Bit Mining announced on July 10 that it was making a strategic move to Solana ecosystemwith plans To raise up to $ 300 million to produce a Solana token Treasury.
Meanwhile, on June 16, tech investment firm Memestrategy rose 28.5% after becoming the first The company in Hong Kong is publicly listed to invest in SolanaHapting 2,440 tokens and producing to support the wider Solana ecosystem.
Magazine: Solana ‘will be a trillion-dollar asset’: Mert Mumtaz, X Hall of Flame
