The company’s treasury has swelled beyond 2 million SOL, worth over $412 million, after another round of heavy accumulation.
The latest addition was just under 200,000 SOL, purchased at an average price of $202.76. It follows a much larger buy of $77 million worth of Solana at the end of August, coinciding with the closing of a $125 million equity raise. Taken together, these acquisitions have doubled the size of the firm’s SOL reserves in just six weeks. Management says the new holdings will be staked, turning idle assets into a steady source of yield.
While the company’s treasury has been expanding, its stock price has swung sharply. Shares of DeFi Development Corp (DFDV) slid 7.6% on Thursday to $15.21 before clawing back a small gain in after-hours trading. Despite those short-term losses, the stock remains up an eye-popping 1,710% this year. Analysts at Cantor Fitzgerald continue to back the rally, giving DFDV an “overweight” rating and a $45 price target.
The company’s bullish stance comes as Solana itself hits historic milestones. Asset manager Bitwise pointed out that Solana has now surpassed $100 billion in market capitalization — a feat achieved in less than five years. For perspective, tech giants Google and Meta took seven and nine years respectively to cross the same threshold.
By betting heavily on Solana’s growth and staking economy, DeFi Development Corp is positioning itself not just as a token holder but as a key corporate treasury player in the network’s ecosystem. If Solana’s momentum continues, the firm’s timing could give it a powerful edge as institutions flock to yield-bearing crypto assets.
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