DeFi Development Boosts Solana Treasury 12% to 2.59M SOL, CHAD Hits Record
DFDV sits 75% above its 52-week low of $2.44.
Summary
DeFi Development added 22,070 SOL and SOL-equivalent assets over the past week, lifting total holdings to 2.59 million SOL — a 12% increase from the August 12 earnings release. CEO Joseph Onorati reiterated the company's commitment to keep buying Solana, citing Samsung's stablecoin integration and growing tokenized stock trading on the network. The company's CHAD preferred stock hit a record price in the week ended October 9 despite a broader crypto decline, and a buyback program covering all outstanding CHAD shares was approved. This follows a series of 8-K filings showing steady SOL accumulation and the recent CHAD ATM expansion. The treasury now stands at roughly $309 million in SOL, and the buyback provides downside support for CHAD near its $10 par value.
At the time of this announcement, DFDV was trading at $4.27 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $140.9M. The 52-week trading range was $2.44 to $18.28. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Bloomingbit.