DeFi Development Corp, a Nasdaq-listed company, is just one token short of reaching 1 million SOL in its treasury after executing a massive $198 million Solana (SOL) purchase last week.
Between July 14 and July 20, 2025, the firm acquired 141,383 SOL through a combination of spot market buys, discounted locked tokens, and staking or validator rewards, pushing its total Solana holdings to 999,999, the company confirmed in an official statement on Monday.
“All newly acquired SOL is being staked immediately, earning native yield while helping secure the Solana network,” the company posted on X (formerly Twitter).
The timing of the move proved ideal. According to Nansen data, Solana surged 12% on Monday, climbing above $202, reflecting strong bullish sentiment fueled in part by DeFi Development Corp’s aggressive accumulation strategy. Over the past seven days, SOL is up more than 25%, showcasing renewed investor confidence.
Funding, Strategy, and More SOL to Come
Month-to-date, DeFi Development Corp said it has raised $19.2 million by issuing 740,000 shares of common stock. As of now, $5 million in proceeds remains available, which, at current market prices, equates to approximately 24,752 additional SOL.
The firm has publicly reiterated its focus on Solana. Speaking in a June 25 episode of the Thinking Crypto podcast, CEO Joseph Onorati emphasized there are “no plans to expand to any other crypto for the foreseeable future.”
According to Onorati, Solana’s native yield and price volatility offer a unique advantage. “Ultimately, the volatility gets monetized for the benefit of the shareholders via convertible debt financing,” he said.
DeFi Development Corp’s Background and Stock Reaction
Formerly known as Janover, the company transitioned from a real estate finance platform into a crypto-focused strategy firm. It made its first Solana purchase of 2,858 SOL on April 8.
Despite its bold move into crypto, DeFi Development Corp’s stock (DEFC) dipped 3.65% on Monday, closing at $23.52. It slightly recovered in after-hours trading to $24.55, suggesting investor skepticism toward short-term gains.
Others Follow the Solana Strategy
The trend of building Solana treasuries is gaining traction. On July 10, Bit Mining, a Bitcoin mining company, announced a $300 million capital raise to pivot into the Solana ecosystem. Meanwhile, Hong Kong-based MemeStrategy surged 28.5% in mid-June after acquiring 2,440 SOL, becoming the first publicly listed company in the region to back Solana directly.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions.
