Solana News: DeFi Development (DFDV) Soars 20%, SOL Holdings Surges $100M

DeFi Development Jumps 20% After Solana Holdings Surpasses $100M With Latest Acquisition

In the month since its crypto pivot, the Nasdaq-listed company has amassed 595,988 shares of Solana's SOL, worth roughly $105 million.

Christian Sandor, AI Boost | Edited by Sheldon Rebeck May 12, 2025, 2:02 PM

Key facts:

• DeFi Development has increased its Solana SOL holdings to over $100 million by acquiring an additional 172,670 tokens.
• The company's shares rose 20% after the market opened, adding to a 30% gain on Friday amid a broader crypto rally.
• The move is in line with a growing practice among public companies to add cryptocurrencies to their balance sheets, following the strategy of Michael Saylor (MSTR).

DeFi Development (DFDV), a Nasdaq-listed real estate tech company formerly known as Janover, has acquired a significant amount of SOL shares from Solana On Monday, the company announced that its total crypto assets would reach $173.79 , bringing its total crypto assets to over $100 million.

The company said it purchased 172,670 SOL at an average price of $136.81. The $23.6 million purchase is the largest since its crypto pivot last month. The Florida-based firm now owns 595,988 SOL, which is worth nearly $105 million at current prices.

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The company said the tokens will be held for a long time and staked across multiple validators, including its own, to generate staking income. DeFi Development's updated exposure per share is now 0.293 SOL, or about $50.42 per share.

The company's shares rose 20% to $90 in the first minutes of Monday's session, adding to a 30% gain on Friday as cryptocurrency prices have risen in recent days. SOL has increased more than 20% in the past week, reaching $180 for the first time since February.

The move reflects a growing trend among public companies to acquire cryptocurrencies for their balance sheets, following the strategy of Michael Saylor (MSTR).

While many firms are following Saylor's lead and focusing on Bitcoin BTC $103,509.80 , the largest cryptocurrency, others are looking for alternatives. Last month, Janover was acquired by a group of former Kraken crypto exchange executives and switched to the Solana blockchain, accumulating the network’s native token and running validators to earn staking income. The company recently outlined plans to raise $1 billion to buy SOL.

More Info: DeFi Development Plans to Raise $1 Billion to Acquire More

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