Nasdaq-listed firm DeFi Development Corp is now just one token away from crossing a million Solana in its treasury after its latest $198 million buy.

In a statement on Monday, DeFi Development Corp said its purchase of 141,383 Solana between July 14 and July 20 had grown its treasury to 999,999.

The recent acquisition included spot purchases, discounted locked SOL, and 867 tokens earned through staking, validator revenue, and “other onchain activity,” according to DeFi Development Corp.

“All newly acquired SOL is being staked immediately, earning native yield while helping secure the Solana network,” the firm said in an X post on Monday.

DeFi Development Corp’s latest Solana acquisition came on Sunday and has already paid off as of Monday, with Solana jumping 12% to over $202, Nansen data shows.

In the last seven days, the token is up over 25%.

More purchases likely incoming

Month-to-date, DeFi Development Corp said it raised $19.2 million in net proceeds by issuing 740,000 shares of common stock. The company said it still had $5 million available for future SOL purchases.

At current prices, $5 million could purchase at least another 24,752 SOL.

In a June 25 episode of the Thinking Crypto podcast, DeFi Development Corp chairman and CEO Joseph Onorati said the company has no plans to expand to any other crypto for “the foreseeable future.”

He added that they chose SOL for the treasury because of its native yield and volatility, which he said is the “key ingredient”  to the success of treasury strategy companies because “ultimately the volatility gets monetized for the benefit of the shareholders via convertible debt financing.”

Get to know Godleak

Godleak crypto signal is a  service which provide profitable crypto and forex signals. Godleak tried to provide you signals of best crypto channels in the world.

It means that you don’t need to buy individual crypto signal vip channels that have expensive prices. We bought all for you and provide you the signals with bot on telegram without even a second of delay.

Godleak crypto leak service have multiple advantages in comparision with other services:

•  Providing signal of +160 best crypto vip channels in the world
• Using high tech bot to forward signals
• Without even a second of delay
• Joining in +160 separated channels on telegram
• 1 month, 3 months , 6 months and yearly plans
• Also we have trial to test our services before you pay for anything

For joining Godleak and get more information about us only need to follow godleak bot on telegram and can have access to our free vip channels. click on link bellow and press start button to see all features

Join for Free

☟☟☟☟☟

https://t.me/Godleakbot

Also you can check the list of available vip signal channels in the bot. by pressing Channels button.

DeFi Development Corp, formerly Janover, was mainly a real estate financing company that used an AI-powered online platform connecting lenders and commercial property buyers. The firm made its first SOL purchase of 2,858 tokens on April 8.

The latest acquisition and Solana’s rally failed to boost the price of DeFi Development Corp’s stocks which fell 3.65% on Monday to trade at $23.52. However, it recovered slightly in after-hours trading to $24.55.

Other firms are creating Solana treasuries too

Bitcoin mining firm Bit Mining announced on July 10 that it was making a strategic shift into the Solana ecosystem, with plans to raise up to $300 million to build a Solana token treasury.

Meanwhile, on June 16, tech investment firm MemeStrategy soared 28.5% after becoming the first publicly listed company in Hong Kong to invest in Solana, snapping up 2,440 tokens and committing to support the broader Solana ecosystem.