'Solana Reserve Asset' DeFi Development Corp. Purchases ₩3.7 Billion Worth of Solana
Summary
- DeFi Development Corp. recently announced an additional purchase of SOL worth $2.72 million (about ₩3.7 billion).
- With this purchase, the company's SOL holdings have increased to 640,585, and they have stated plans to generate profits through long-term holding and staking of the acquired tokens.
- Upon the news of the purchase, DeFi Development Corp.'s share price soared by 17%.
DeFi Development Corp., which manages Solana (SOL) as a strategic asset, has recently purchased an additional $2.7 million worth of SOL.
According to cryptocurrency-specialized media outlet Cointelegraph on the 4th, DeFi Development Corp. announced that it purchased 17,760 SOL at an average price of $153.10 per SOL the previous day. The total purchase amounted to $2.72 million (approximately ₩3.7 billion), increasing the firm’s total SOL holdings to 640,585.
The company stated its intention to hold the purchased SOL for the long term and explained plans to generate profits by staking the acquired tokens.
Additionally, following the announcement of this purchase, the share price continued its sharp rise. As of the closing price on the 3rd (local time), DeFi Development Corp.'s stock ended at $23.80, up 17% from the previous day.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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