DeFi Development Corp. Invests $77 Million in Solana, Expanding its Treasury

DeFi Development Corp., a leading player in the DeFi space, has made a substantial investment in Solana, adding to its treasury holdings as competition intensifies among public firms. The company acquired approximately 407,247 SOL tokens for $77 million on August 28th at an average price of $188.98 per token. This purchase brings the company’s total Solana holdings to 1,831,011 SOL, representing nearly $371 million in value. The investment comes just weeks after the company secured a significant equity raise that provided more funds for future Solana acquisitions.