The Solana ecosystem gained fresh momentum on Thursday as Florida-based DeFi Development Corp (DFDV) announced a new addition to its SOL holdings, acquiring 17,760 tokens for roughly $2.72 million. The average cost came in at $153.10 per SOL, underscoring the firm’s strategy to deepen its treasury reserves and increase staking rewards.
After this latest acquisition, DeFi Dev Corp’s total SOL holdings now stand at 640,585 tokens and equivalents, valued at approximately $98.1 million. With 14,740,779 shares outstanding, this equates to 0.042 SOL per share, or about $6.65 in value for each share based on current prices.
The newly purchased SOL will be staked across multiple validators, including DeFi Dev Corp’s own infrastructure within the Solana network. Staking not only brings in native rewards and validator fees but also helps maintain the blockchain’s decentralization and security.
DeFi Dev Corp has positioned itself as the first publicly listed firm to center its treasury strategy on Solana. Beyond merely holding and staking SOL, the company is active in decentralized finance (DeFi) initiatives and contributes to the development of Solana’s ecosystem. This approach allows shareholders to gain direct financial exposure to SOL and participate in the growth of the network’s application layer.
At last check, SOL was trading around $150.75, marking a 1.6% decline over the past 24 hours, per CoinDesk Research. Meanwhile, the broader crypto market, as measured by the CoinDesk 20 Index (CD20), posted a modest gain of 0.13% over the same period.
Technical Market Snapshot
- Between 2 July at 17:00 UTC and 3 July at 16:00 UTC, SOL’s trading range fluctuated from $156.28 down to $150.04, reflecting 4.15% volatility.
- Early in the session, SOL encountered significant resistance around $156, which triggered a downward reversal on higher-than-average volume.
- Through midday (12:00–15:00 UTC), SOL slipped below key support at $152, stabilizing around $150.44.
- During the last trading hour (15:16–16:15 UTC), SOL lost 0.63%, dropping from $151.85 to $150.89.
- A sharp decline occurred at 15:35 UTC, sending SOL down to $150.44 amid a high trading volume of 213,600 tokens.
- Buyers stepped in near $150.35, helping the token stage a modest rebound during the final moments of the session.
