DeFi Development Corp Adds $3 Million in Solana as SOL Buys Slow

In brief

• DeFi Development Corp. added about 26,203 SOL between Sept. 28 and Oct. 2, lifting holdings to 2,564,212 SOL and SOL equivalents, per an 8-K filed Oct. 5.
• The gain is roughly half the 47,706 added the prior week and about a quarter of the 101,381 added the week ending Sept. 18.
• The company says its treasury is up 11% since Aug. 12 and values it at $302 million, and it paid the first 13% dividend on its CHAD preferred stock on Oct. 1.

DeFi Development Corp., a Financial services and asset management company known in the crypto ecosystem for having the second biggest Solana holdings in the world, just added 26,202 SOL, worth roughly $3 million, to its treasury. The funds came in between Sept. 28 and Oct. 2, according to an 8-K, the form public companies file to disclose significant events.

The Nasdaq-listed company, ticker DFDV, now holds 2,564,212 SOL and “SOL equivalents,” a term the filing doesn’t define. It values the pile at $302 million. That’s a 1% increase from the 2,538,010 it held on Sept. 25.

The pace with which the company is adding to its coffers is cooling. DFDV added 101,381 SOL in the week ending Sept. 18 and 47,706 SOL the week after.

CEO Joseph Onorati framed it differently in the company’s press release. “The DFDV ship is flying at lightning speed. We have continued buying SOL and have grown our treasury by 11% since August 12,” he said.