- DeFi Dev Corp owns 2,027,817 SOL valued at 427M having purchased the dip at 202.76 Solana price target at $250.
- With 0.0793 SOL/share, DFDV’s position is valued at $16.70 per share; tokens are staked for passive yield.
- DFDV stock is up 2,838% YoY; $13.7M net profit, $1.17 EPS; SOL seen rebounding toward $250 after brief dip.
DeFi Dev Corp is doubling down on Solana, snapping up over 196,000 tokens during a market dip—raising its total holdings to more than 2 million SOL worth $427 million. As institutional adoption begins to pick up and Solana rebounds following recent lows, the company is betting heavily on long-term upside, and analysts have a long-term target of $250.DFDV investors are directly associated with the altcoin, as every one of their shares is backed by 0.0793 SOL.
DeFi Dev Corp Expands Solana Price Holdings Amid Dip
In a recent press release, DeFi Development Corp. announced it had acquired 196,141 SOL at an average price of $202.76 per token. This increased its total reserves to 2,027,817 SOL. The latest purchase, representing an 11% boost to its balance sheet, places the firm’s holdings at around $427 million.
Holding above 25.5 million shares, the Solana position of DeFi Dev Corp represents 0.0793 SOL per share, worth 16.70. The company emphasized that these tokens will be held in a long-term investment and staked across validators to generate additional yield.
The latest move comes just a week after DeFi Dev Corp invested $77 million into 407,247 SOL at an average price of $188.98. It lifted its holdings at the time to 1.83 million tokens worth $371 million.
DeFi Dev Corp’s move to buy the dip followed a minor correction in SOL’s market price. Solana fell 1.45%, trading at $204.11 after touching $217.84 on September 3. The decline came on the heels of a 35% monthly rally and appears tied to profit-taking and increased whale activity.
https://twitter.com/kelvinmunene422/status/1964014342006796355
DFDV Stock Solana Price Slides Despite Long-Term Growth
According to Yahoo Finance data, shares of DeFi Dev Corp (DFDV) fell by 7.59% during Thursday’s trading session. However, the stock regained about 1% in overnight moves. The company’s stock remains one of the best-performing among crypto-tied equities, having surged nearly 2,838% in the past year.
The firm currently has 25.37 million shares outstanding, representing a 34% increase from a year ago. Over the last 12 months, DeFi Dev Corp generated $3.52 million in revenue and $13.7 million in net profit, with earnings per share reaching $1.17.
In other institutional developments on Solana, Galaxy Digital recently became the first Nasdaq-listed company to tokenize its shares on a blockchain. This aligns with its joint initiative with Jump and Multicoin to raise $1 billion for a Solana treasury.
https://twitter.com/kelvinmunene422/status/1964015053612486682
Furthermore, in June, Classover Holdings announced a $550 million purchase of SOL as part of plans to create its own treasury reserve. The company disclosed a $500 million securities purchase agreement with Solana Growth Ventures LLC.
DeFi Dev Corp buying the price dip suggests great confidence in the altcoin’s long-term growth despite short-term volatility. Although there can be short-term uncertainty due to the stock volatility, the company has already provided shareholders with exponential growth due to its aggressive approach to the treasury.
