DeFi Development Corp. adds 17,760 SOL to stockpile, bringing total solana holdings to $96 million
Quick Take DeFi Development Corp. purchased 17,760 SOL at an average price of $153.10 per coin or approximately $2.72 million total. This brings the Solana treasury firm’s stockpile to 640,585 SOL, worth about $96 million at current prices.
Solana treasury firm DeFi Development Corp. (ticker DFDV) disclosed its latest round of token purchases, adding 17,760 SOL to its stockpile, according to an announcement on Thursday. This brings the firm’s holdings to 640,585 SOL, worth about $96 million at current prices.
DDC began purchasing Solana tokens in April after being acquired by former Kraken executives. On Wednesday, the firm disclosed it had secured a $112.5 million private placement to partially fund additional SOL purchases. It previously raised $42 million in financing and secured a $5 billion line of credit.
As part of its latest funding round, DDC set aside $75.6 million of the net proceeds to fund a "prepaid forward" stock purchase transaction, which will absorb some of the risk for buyers of DDC’s convertible notes. The remaining funds will go towards corporate operations and SOL purchases.
DeFi Development Corp. is one of many firms pursuing a Solana acquisition and staking strategy, alongside SOL Strategies and Upexi, amid a rising trend of so-called crypto treasury firms . While the vast majority of businesses are adding Bitcoin to their balance sheets, many others are adding proof-of-stake tokens like ETH and BNB, which will allow firms to earn revenue through staking rewards.
DDC’s latest SOL tranche was purchased at an average price of $153.10 per coin or approximately $2.72 million total. It maintains a “SOL per Share” ratio, used to measure the performance of its holdings relative to its equity value, of 0.042 as of July 3.
Solana is currently trading near $150, according to The Block’s price page .
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Anthropic's Core Concern: Revenue Can Be Withdrawn at Any Time, but Computing Power Costs Are Locked in for up to 20 Years
Zheshang Securities believes that Anthropic's revenue is mainly based on usage-based billing, with remaining performance obligations covering only about 5.1 months of annualized revenue, while compute power costs are already locked in with $895.4 billion in irrevocable commitments, some extending as far as 2045. Revenues can be reduced at any time, but costs are non-exitable, creating a highly asymmetric maturity gap between the two—this is the company's real core constraint.
Triple Pressure from the Federal Reserve, Treasury, and Congress; Goldman Sachs: Liquidity Crisis May Occur in 2027
Goldman Sachs warns that the reserve ratio of bank assets has dropped to around 11%, only slightly above the crisis trough of 2019. In the second half of 2027, a deadlock in debt ceiling negotiations will force the Treasury to rebuild the TGA, triggering a "perfect storm" of a sharp drop in reserves and a surge in T-bill supply; combined with stalled money market fund buying, this will create a huge liquidity black hole. The Federal Reserve could be forced into the awkward position of lowering interest rates and launching large-scale bond purchases to rescue the market.
U.S. Stock IPO Preview | From Losses to Net Profit of 5.46 Million: The "Three-Dimensional" Platform Business Strategy with a Taste for Golf
Crossing the break-even line, the growth inflection point has arrived.
Crypto prices
More
