DeFi Development Corp (NASDAQ:DFDV) announced on Monday that it had purchased 172,670 Solana (CRYPTO: SOL/USD) at an average purchase price of $136.81, valued at approximately $23.6 million.
This marks the company’s 10th Solana purchase under its digital asset treasury strategy and its largest purchase.
DeFi Development Corp now holds 595,988 SOL, valued at approximately $102.7 million, including staking rewards.
Also Read: DeFi Development Corp Expands Digital Asset Portfolio, Holds $58.5 Million In Solana Tokens
As of May 12, DeFi Development had 2.04 million total outstanding shares. The SOL per Share (SPS) was 0.293, or $50.42.
As with all previously purchased tokens, the most recently purchased SOL will be held long-term and staked to various validators, including DeFi Dev Corp’s own Solana validators, to generate native yield.
Price Action: DFDV stock traded higher by 12% to $84 premarket at the last check on Monday.
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Photo: Lee Wa Da via Shutterstock
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This article EXCLUSIVE: DeFi Development Makes Record Solana Purchase, Surpasses $100 Million In Treasury Holdings originally appeared on Benzinga.com
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