Solana’s on-chain fundamentals gained a serious vote of confidence on Thursday as Florida-based DeFi Improvement Corp (DFDV) announced it had expanded its SOL
treasury by buying 17,760 further tokens. The acquisition, valued at roughly $2.72 million, was executed at a mean value of $153.10 per token. This transfer aligns with the corporate’s acknowledged long-term technique of compounding SOL holdings and staking rewards.
Following this acquisition, DeFi Dev Corp’s whole holdings reached 640,585 SOL and SOL equivalents, representing a U.S. greenback worth of round $98.1 million. Based mostly on the corporate’s final reported whole of 14,740,779 shares excellent, the present SOL-per-share (SPS) stands at 0.042, or roughly $6.65 per share utilizing the day’s value knowledge.
All newly acquired SOL will probably be staked with quite a lot of validators, together with DeFi Dev Corp’s personal infrastructure on the Solana community. This method allows the corporate to earn native yield via staking rewards and validator charges, whereas instantly contributing to Solana’s decentralization and operational resilience.
DeFi Dev Corp has positioned itself as the primary public firm to make Solana the centerpiece of its treasury technique. Along with accumulating and staking SOL, it is usually actively engaged in decentralized finance (DeFi) alternatives and ecosystem participation. The corporate’s treasury technique affords shareholders direct financial publicity to the token whereas supporting Solana’s application-layer improvement.
On the time of writing, SOL was buying and selling at round $150.75, down 1.6% up to now 24-hour interval, in keeping with CoinDesk Analysis’s technical evaluation mannequin. In the meantime, the broader crypto market, as gauged by the CoinDesk 20 Index (CD20), is up 0.13% in the identical interval.
Technical Evaluation Highlights
- SOL ranged from $156.28 to $150.04 between July 2 17:00 and July 3 16:00, reflecting 4.15% volatility.
- Robust resistance shaped at $156 throughout early buying and selling hours, with above-average quantity triggering a reversal.
- Value dropped beneath key assist at $152 through the 12:00–15:00 interval, settling at $150.44.
- Within the closing hour (15:16–16:15 UTC), SOL declined 0.63% from $151.85 to $150.89.
- A pointy selloff occurred at 15:35 UTC, with value dropping to $150.44 on excessive quantity (213.6K).
- Assist emerged at $150.35 with growing buy-side exercise and a modest restoration within the closing minutes.
Disclaimer: Components of this text had been generated with the help from AI instruments and reviewed by our editorial staff to make sure accuracy and adherence to our standards. For extra info, see CoinDesk’s full AI Policy.