Key Highlights
- DFDV purchased about 19,000 SOL at an average price of $98.14 as SOL traded above $100.
- The latest purchase increased the company’s total SOL and SOL equivalents to approximately 2,333,432.
- SOL climbed 11% in 24 hours to $107.20.
DeFi Development Corp. (DFDV) has returned to buying Solana (SOL), purchasing about 19,000 SOL at an average price of $98.14.
In a press release published on August 27, the company said it made the purchase as SOL traded above the $100 level. This is during a time that the wider market is showing new strength with Bitcoin, the largest cryptocurrency by market capitalization surging above $80.000, according to data from CoinMarketCap as of August 27 (3:52 PM UTC).
DFDV said it resumed buying to take advantage of better market conditions and grow its Solana treasury.
DFDV resumes Solana buying
This latest purchase has pushed DFDV’s total treasury to about 2,333,432 SOL and SOL equivalents. The company did not fund the entire purchase from its existing cash. It said part of the money came from the sale of its ZeroStack position. This allowed DFDV to return to SOL buying while continuing to build its main crypto treasury.
DFDV said it plans to keep SOL as a long-term treasury asset. It will also use the tokens through its staking and on-chain treasury infrastructure.
Staking allows holders to put their crypto to work on a blockchain and earn rewards. In DFDV’s case, the company plans to continue using its SOL holdings as part of its wider blockchain operations.
“The purchase marks a return to active SOL accumulation as the Company looks to take advantage of improving market conditions and continue scaling its treasury,” the company said.
SOL recover above $100
The timing of the purchase comes as SOL moves back above $100 after a period of price trading downtrend.
At the time of reporting, the token is trading for $107.20, representing 11% surge just within the last 24 hours alone. In fact, SOL has gained more than 24% over the past week and about 44% over the past month, according to data from CoinMarketCap on August 27 (3:52 PM UTC)
However, the recent rally has not fully erased SOL’s losses for the year. The token remains about 45% below its 2026 high. This means SOL has made a strong recovery from recent levels but still has a long way to go before returning to its earlier peak.
Crypto treasury firms face pressure
DFDV’s return to buying also stands out because several crypto treasury companies had slowed or stopped purchases during the market downturn.
Falling crypto prices put pressure on companies that held large amounts of digital assets, while their stock prices also came under pressure. Some firms responded by selling part of their holdings. Strategy, one of the largest crypto treasury companies, was among those that reduced some of its cryptocurrency position.
DFDV, however, continues to build its business around Solana. The company has made SOL the main asset in its treasury and uses its holdings for staking and other onchain activities. Its latest purchase shows that the company is once again adding to that position after the recent market weakness.
There is also another development drawing attention to SOL. Crypto-native asset manager, 21Shares, said the SIMD-0550 proposal could increase the amount of SOL burned on the network while reducing its inflation rate. A higher burn rate would remove more SOL from circulation, while lower inflation would slow the rate at which new tokens are created.
For now, DFDV has added another 19,000 SOL to its growing treasury at an average price below $100. With about 2.33 million SOL and SOL equivalents now held, the company is continuing its plan to build a large Solana treasury and keep the asset as a long-term part of its strategy.
Also Read: Schwab Expands Crypto Offerings With SOL, AVAX & LINK Support
