DeFi Development Corp., a real estate software firm that has shifted its focus to building a Solana-focused treasury, purchased 172,670 SOL, worth roughly $23.6 million, bringing its total Solana holdings to over $100 million.
The company announced Tuesday that it made the latest Solana purchase at an average price of $136.81, marking its 10th acquisition. It now holds a total of 595,988 SOL, worth about $102.7 million, including staking rewards.
The purchase follows its $24 million private placement, which closed Tuesday. The company said it plans to use the proceeds for general corporate purposes, including “continued accumulation of Solana.”
DeFi Development Corp., formerly known as Janover, rebranded and shifted its focus to crypto after a team of former Kraken executives acquired a majority stake in the company in April.
As part of its Solana push, the company announced last week that it had agreed to acquire an undisclosed Solana validator business for $3.5 million, enabling it to self-stake its SOL holdings.
The company’s stock closed up 2.53% on the Nasdaq on Tuesday and rose 5.67% in after-hours trading, according to Yahoo Finance. It changed its ticker to “DFDV” from “JNVR” earlier this month.
Solana’s price rose 6.7% to $180.3 at press time, according to The Block’s SOL price page. It has a market capitalization of $93.6 billion, making it the sixth-largest cryptocurrency.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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