DeFi Development Corp (NASDAQ:DFDV) announced on Monday it acquired 172,670 Solana (CRYPTO: SOL/USD) at an average price of $136.81, totaling approximately $23.6 million. This marks their tenth and largest Solana purchase under their digital asset treasury strategy.
The company now holds 595,988 SOL, valued at about $102.7 million, including staking rewards. As of May 12, with 2.04 million outstanding shares, the SOL per Share (SPS) was 0.293, or $50.42.
The purchased SOL will be held long-term and staked to generate native yield. On Monday, DFDV stock traded 12% higher to $84 premarket.
This article is based on our author's analysis of materials taken from the following resource: Benzinga.com.