DeFi Development Corp. (DFDV), a Nasdaq-listed company, has announced a significant milestone in its Solana (SOL) accumulation strategy, reaching a total of 999,999 SOL tokens in its treasury. This news coincided with a notable surge in Solana's price, with increases of around 12% being reported.
The company's strategic move to bolster its SOL holdings underscores its commitment to the Solana ecosystem and its confidence in the potential of SOL within the decentralized finance (DeFi) landscape. Between July 14 and July 20, DeFi Development Corp. added 141,383 SOL to its reserves at an average purchase price of $133.53 per token, totaling approximately $19 million. This increased their holdings from a previously reported 857,749 SOL. Furthermore, the company organically earned 867 SOL through staking rewards and validator revenue during the same period. As of July 20, the total SOL holding was valued at roughly $181 million.
To finance the acquisition of the additional SOL tokens, DeFi Development Corp. raised approximately $19.2 million through its Equity Line of Credit (ELOC) facility, issuing 740,000 shares of common stock. The company has roughly $5 million of these proceeds remaining, which are primarily earmarked for future SOL acquisitions. It has utilized 0.4% of the total ELOC capacity.
DeFi Development Corp. is not alone in recognizing the potential of Solana. Other companies are also incorporating altcoins like SOL into their financial portfolios. Upexi has plans to raise $200 million to expand its treasury to 1.65 million SOL, while BIT Mining has shifted its focus to Solana with the goal of raising up to $300 million. Mercurity Fintech also recently entered into a $200 million equity line of credit agreement with "Solana Ventures Ltd." to launch a Solana treasury.
The company stakes substantially all of its unlocked SOL to its own validator infrastructure. In addition to generating yield, its validators process third-party delegated stake, creating additional fee revenue.
DeFi Development Corp. describes itself as the first public company with a treasury strategy designed to accumulate and compound Solana, thereby providing investors with direct economic exposure to SOL while simultaneously participating in the Solana ecosystem. The company has also set its sights on achieving 1.0 SOL per share by December 2028.
In related developments, DeFi Development Corp. has launched the DFDV Treasury Accelerator, an international franchise model intended to support Solana treasury vehicles on a global scale, with support from entities like Kraken and Pantera Capital. The company has also partnered with Switchboard Technology Labs to develop data and oracle infrastructure for Solana's real-world asset initiatives and integrated DoubleZero into its Solana validator operations to improve performance and network resilience.
As of today, July 22, 2025, the live price of Solana is around $197.42 USD, representing a 10.29% increase in the last 24 hours. Solana is ranked #6 on CoinMarketCap, with a live market cap of $106,223,522,456 USD. The recent activity surrounding DeFi Development Corp. and the broader interest in Solana treasuries may be contributing factors to the cryptocurrency's positive price movement.
