Solana Gets $5 Billion Boost via Nasdaq-Listed Firm’s ELOC Deal

DeFi Development Corp., a U.S. firm listed on the Nasdaq, has secured a major financial opportunity to expand its Solana (SOL) holdings. They have entered into an Equity Line of Credit agreement with RK Capital Management LLC, granting them the ability to sell up to $5 billion worth of stock to RK Capital as needed. This ELOC arrangement offers DeFi Dev flexibility, allowing them to raise capital gradually rather than in a single large tranche. This approach allows them to avoid potentially steep losses in volatile market conditions.