With over 2 million SOL in its treasury, DeFi Development Corp strengthens its strategy. What’s next for Solana price?
DeFi Development Corp has expanded its Solana (SOL) treasury beyond 2 million tokens, raising questions about Solana’s future price movements. The company announced the acquisition of 196,141 SOL at an average price of $202.76, pushing its total holdings to 2,027,817 SOL.
Growing Treasury and Updated Metrics
The latest purchase increased the company’s holdings by 11% compared to its August 28 acquisition. At current valuations, the treasury now stands at about $427 million. DeFi Development Corp also reported that its SOL per share (SPS) metric rose to 0.0793, equal to $16.70 per share in Solana value.
1/ Achievement Unlocked: 2 Million $SOL ✅
Today, we announce the acquisition of 196,141 SOL at an avg. price of $202.76, bringing total treasury holdings to 2,027,817 SOL.
This latest purchase marks an +11% increase from our prior acquisition announced on August 28, 2025. 🧵 pic.twitter.com/31YUMpvZOw
— DeFi Dev Corp. (DFDV) (@defidevcorp) September 4, 2025
The company clarified that its reported share count does not yet include pre-paid warrants from its recent equity financing. With the inclusion of those warrants, the adjusted share count would be around 31.4 million. Even with this dilution, the firm expects SPS to remain above the pre-financing level of 0.0675. Management also confirmed that newly purchased SOL will be staked across validators, including its own infrastructure, to generate staking rewards.
Market Reaction and Share Performance
While DeFi Development Corp continues to add Solana to its balance sheet, its stock price has faced volatility. On Thursday, shares fell 7.59% to $15.21 but recovered slightly in after-hours trading to $15.36. Despite this decline, the stock remains up more than 1,700% year-to-date, though still far from its May peak of $35.53.
The company has also seen growth in its core operations. In the June quarter, revenue rose by 350% year-over-year, while net profit margin increased by 525%. Earlier this year, Cantor Fitzgerald began coverage on the stock with an “overweight” rating and a price target of $45. These developments reflect both investor interest and ongoing questions about the sustainability of its treasury strategy.
Solana’s Rapid Rise in the Crypto Market
The timing of DeFi Development Corp’s acquisitions coincides with Solana’s strong market performance. According to data from CoinGecko, Solana has gained 26.2% in the past month and 54.5% in the past year. Solana also recently reached a $100 billion market capitalization, achieving the milestone faster than major technology firms such as Google and Meta.
Bitwise Asset Management noted that Solana’s rise to this valuation took less than five years. The growing adoption of Solana’s ecosystem and increasing interest in staking rewards continue to attract institutional and retail investors. DeFi Development Corp’s strategy to accumulate and stake SOL places it directly in line with this trend.
With more than $400 million now tied to Solana, the company has become one of the largest public holders of the token. The key question remains whether these growing treasuries will help support the token’s price in the months ahead, especially as new purchases continue and investor focus remains on Solana’s expanding ecosystem.
