DeFi Development, previously known as Janover, has expanded its Solana (SOL) holdings by acquiring $11.2 million worth of SOL tokens, pushing its total holdings to over 400,000 SOL.
The company acquired 82,404 SOL tokens at an average price of $143 per token, which now brings its total holdings to 400,091 SOL. At the current market value, this acquisition elevates the firm’s total SOL portfolio to roughly $57 million.
This purchase includes a portion of locked SOL, acquired via BitGo’s OTC desk. These tokens are locked for the time being, but will eventually be unlocked for full use. However, they remain tradeable between institutional entities during the lock period.
DeFi Development plans to stake these new tokens as part of its strategy to generate staking rewards and build protocol-native cashflow from its growing treasury. This move follows the company’s recent investment into validator operations within the Solana network, further strengthening its position in the ecosystem.
In the wake of the announcement, DeFi Development’s shares dipped 3.8%, aligning with a 2% decline in the price of SOL.
