$SOL Holdings Reach 999,999 Tokens as #DeFiDevelopment Raises $19M


$SOL treasury company DeFi Development Corp purchased 141,383 tokens for $19 million through its equity line of credit.


The acquisition brings total holdings to exactly 999,999 $SOL tokens, all staked on-chain and valued at approximately $192 million.


DeFi Development bought the tokens at an average price of $133.53 as part of its corporate #treasury strategy.


The former real estate firm was acquired by ex-Kraken executives and began accumulating $SOL in April following its corporate rebranding.


Company stock traded 2.8% higher to $25.10 per share, with a market cap near $475 million.


The firm earned 867 $SOL organically through staking rewards between July 14 and July 20.


Other companies including Upexi and BIT Mining are planning similar $SOL treasury strategies worth hundreds of millions.

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July 22, 2025 at 12:26 AM
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