DeFi Development Corp’s Solana treasury exceeds $400M after latest buy

DeFi Development Corp bought $117 million of Solana in the past eight days, but its shares declined 7.59% on Thursday.

Solana treasury company DeFi Development Corp has bought $39.76 million worth of Solana, bringing the company’s total holdings of SOL to 2 million.

The company stated on Thursday that it purchased 196,141 Solana (SOL) at an average price of $202.76 per token with the intention of staking the tokens to generate yield.

The company had bought $77 million of Solana just last week, on Aug. 28, the same day that its $125 million equity raise was set to close.

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