Solana’s Growing Attraction: Defi Development Corp. Increases Participation
The growing attraction of Solana under corporate fluctuations made another step forward this week when Defi Development Corp. announced new funds to increase its participation. This move highlights the increasing interest in Solana among institutional investors.
Key Highlights
Defi Development Corp. added 196,141 SOL worth $40 million, increasing its treasury to over 2 million SOL, valued at around $427 million. The company’s latest purchase drives its overall stock of Solana to a significant milestone, with each share representing 0.0793 SOL, equivalent to a value of around $16.70 per share.
- Defi Development Corp.’s SOL holdings now exceed 2 million, valued at approximately $427 million.
- Corporate holdings of Solana have reached 8.28 million SOL, with the top three companies controlling over 70% of this amount.
- Institutional demand is expected to continue growing, with Pantera, Galaxy Digital, and other billion-dollar Solana-focused treasury initiatives on the horizon.
According to Strategic Sol Reserve, 13 companies hold a combined total of around 8.28 million SOL, valued at approximately $1.72 billion, accounting for about 1.44% of all Solana in circulation. The three largest owners, Defi Development Corp., Upexi, and Sol Strategies, jointly control more than 6 million SOL, worth almost $1.2 billion, representing over 70% of all corporate holdings.
Institutional Interest and Market Dynamics
The increasing institutional interest in Solana is expected to drive growth in the coming months. Pantera Capital is planning to convert around $1.25 billion into a Solana-focused finance device listed on NASDAQ. Additionally, Galaxy Digital, MultiCoin, and Jump Crypto are working on a $1 billion initiative, as reported by Crypto.News.
The asset’s price rose above $210 mid-week before settling around $206. A constant structure of company treasury holdings could provide permanent support for the market, potentially leading to stronger profits over time.
Defi Development Corp.’s expansion into the UK, with the launch of DFDV UK, aims to establish state-of-the-art structures in multiple markets and increase the company’s footprint as an institutional interest in the asset grows worldwide.
For more information on Defi Development Corp.’s Solana treasury expansion, visit https://crypto.news/defi-dev-corp-expands-solana-treasury-with-40m-purchase/
