DFDV buys 19,000 SOL at $98.14 as Solana tops $100

DeFi Development Corp. bought 19,000 SOL at an average price of $98.14, expanding its treasury to 2.33 million SOL as Solana traded above $100.

"DFDV is designed to provide investors with leveraged exposure to Solana, and we believe the recent trading activity demonstrates that investors increasingly understand that value proposition," Joseph Onorati, chief executive officer at DeFi Development Corp., said.

The purchase was partially funded through proceeds from the divestment of the company's ZeroStack position. The newly acquired SOL will be held as a long-term treasury asset and deployed through the company's staking and onchain treasury infrastructure. DFDV now holds approximately 2,333,432 SOL and SOL equivalents, ranking as the second-largest Solana treasury holder behind Forward Industries, which holds roughly 7 million SOL.

Month-to-date, DFDV's return has been more than twice that of SOL, while quarter-to-date DFDV has outperformed SOL by 1.8x. SOL has outperformed the Nasdaq-100 by 33 percent over the same period. The DFDV stock rallied over 12 percent to about $5 on the announcement, up over 23 percent in the past week.

The purchase marks a return to active SOL accumulation after the company paused during the bear market. Several crypto treasury firms have paused purchases as market conditions pressured stock prices. Strategy, the largest crypto treasury firm, has offloaded some holdings this year.

SOL is up over 24 percent in the past week and 43 percent in the last month, though still down 45 percent year-to-date. The token's rally has been supported by the SIMD-0550 proposal, which could increase SOL's burn rate while reducing inflation. Bitcoin's move above $80,000 has also contributed to renewed optimism across the crypto market.

DFDV's June quarter filing showed a net loss of $27.3 million, with a six-month loss of $110.7 million. The losses were driven partly by a $72.5 million net loss on digital assets as SOL fell against the dollar. Quarterly revenue came in at $3.3 million.

For the week ended August 21, DFDV ranked among the most actively traded publicly listed SOL digital asset treasury companies, leading the category in trading volume as a percentage of market capitalization and ranking first in absolute dollar volume on multiple trading days.

The company expects the newly acquired SOL to contribute additional staking and onchain revenue as it is deployed across DFDV's treasury infrastructure. With SOL still trading well below its 2026 highs, the resumption of treasury accumulation by one of the largest Solana holders could mark a turning point for institutional demand on the network.

This article is for informational purposes only and does not constitute investment advice.