'Solana Reserve Asset' DeFi Development Corp. Purchases Additional 181,303 SOL
Minseung Kang
Summary
- DeFi Development Corp. recently announced the additional purchase of 181,303 SOL.
- With this purchase, the company’s total Solana holdings now stand at around 1.18 million, and its asset value is estimated at approximately $218 million.
- The company stated its plans to stake the newly acquired SOL, aiming to further increase holdings through compounding.
DeFi Development Corp., which manages Solana (SOL) as a strategic asset, has recently purchased an additional 181,303 SOL.
According to CoinDesk, a virtual asset (cryptocurrency) specialized media outlet, DeFi Development Corp. announced that it purchased 181,303 SOL at an average price of $155.33 per SOL between the 21st and 28th of last month. As a result, the company’s total Solana holdings have increased to approximately 1.18 million, with the total asset value estimated at about $218 million (approximately ₩302.4 billion).
The company stated that it plans to stake the newly purchased SOL through both its own and external validator services and further increase its holdings through compound interest.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.