Key Takeaways:
- DeFi Development Corp acquired $11.5M in SOL, raising its total Solana holdings to approximately $34.4M.
- The firm’s pivot to crypto follows its acquisition and rebrand by ex-Kraken executives, shifting from real estate to a Solana-based strategy.
- JNVR stock rose 12.83% after the announcement, amid broader momentum in Solana staking activity.
DeFi Development Corporation, formerly Janover, has significantly increased its investment in Solana (SOL), adding 88,164 tokens worth $11.5 million to its treasury on April 22.
This purchase brings its total SOL holdings to approximately 251,842 tokens, valued at around $34.4 million.
2/ Our new website offers real-time treasury transparency.
— DeFi Dev Corp (@defidevcorp) April 22, 2025
Visitors can look at our current SOL balance, SOL per share (SPS), and key metrics designed to give public market investors clear insight into our positioning.
Check it out! 👇https://t.co/d0s3hjPLcV
The move is part of a strategic shift toward cryptocurrency after the company was acquired by former Kraken executives on April 7, which led to a rebrand and a new focus on blockchain technology.
Previously, the company operated in the real estate financing sector.
Since the acquisition, DeFi Development Corp has made several large purchases of SOL, including a $10.5 million buy on April 16.
The company also plans to stake its SOL tokens to generate additional yield, utilizing Solana’s staking system that currently offers an 8.31% annual return.
Staking involves locking up tokens to support blockchain operations in exchange for rewards.
The market reacted positively to the shift, with JNVR stock rising 12.83% following the announcement.
On April 21, Solana briefly surpassed Ethereum in total staked value, reaching over $53.9 billion staked across more than 500,000 wallets.
This move underscores DeFi Development Corp’s commitment to becoming a major player in the Web3 and crypto space.
About The Author
Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.
His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.
Check Adam out on: