DeFi Development Expands Solana Treasury to 2.39M SOL

Nasdaq-listed DeFi Development Corp (NASDAQ: $DFDV) has increased its Solana (CRYPTO: $SOL) treasury by 55,491 SOL, bringing its total holdings to about 2.39 million SOL and SOL equivalents.

The company said Monday that its treasury has grown roughly 2% since August 27 as it resumed regular Solana purchases and continued generating yield from its holdings. DeFi Development Corp is now the second-largest public-company holder of Solana after Forward Industries.

Alongside the treasury increase, the company established a $300 million at-the-market offering for its CHAD perpetual preferred stock. The Variable Rate Series C Perpetual Preferred Stock carries an initial annual dividend rate of 13%. DeFi Development said it plans to issue the shares at or above their $10 par value, with most of the proceeds expected to fund additional SOL purchases.

MEXC Launches Earn Plus With Limited-Time Event Offering Up to 800% APR Booster

Kalshi Expands Internationally With Alpaca Brokerage Partnership

Bitmine Accelerates Ethereum Purchases To Close Out August

Strategy Bought $370 Million Of Bitcoin Last Week

MEXC Data: BTC Breaks $80,000, Major-Asset Spot Trading Volume Surges 300%

"We are growing our SOL treasury, generating more organic yield, and delivering strong performance, with DFDV returning twice as much as SOL quarter-to-date," CEO Joseph Onorati said. He added that the company has returned twice as much as SOL quarter-to-date.

DeFi Development resumed regular SOL purchases in late August after a pause. The company has also expanded its activities around the Solana ecosystem, including the launch of a public platform tracking network data such as staking, validators, yields and ecosystem activity.

The treasury expansion comes as institutional interest in Solana continues to grow. Bitwise's Solana exchange-traded fund recently surpassed $1 billion in assets under management.

At the time of writing, Solana is trading at around $101, largely flat over the past day. The token is up around 35% over the past month.

DFDV shares are trading at $5.16 apiece, up 1.5% today. However, the company's shares are down 3.56% year-to-date.