Solana Treasury Firm Expands SOL Holdings and Staking Strategy With $2.7M Purchase

Solana’s Fundamentals on the chain obtained an important voice of trust on Thursday when the Defi Development Corp (DFDV), based in Florida) announced that it had expanded its Sol

Treasury by acquiring 17,760 extra tokens. The purchase, with a value of approximately $ 2.72 million, was carried out at an average price of $ 153.10 per token. This movement corresponds to the indicated long-term strategy of the company for compiling sol solutions and the cessation of rewards.

After this acquisition, the total importance of Defi DEV CORP reached 640,585 Sol and SOL equivalents, which represents an US dollar value of around $ 98.1 million. Based on the last reported total of 14,740,779 outstanding shares of the company, the current SOL-per-SHARE (SPS) is 0.042, or approximately $ 6.65 per share using the price data of the day.

All newly acquired SOL will be deported with a variety of validators, including the own infrastructure of Defi DEV Corp on the Solana network. This approach enables the company to earn native yield by setting rewards and validator costs, while it contributes directly to the decentralization and the operational resilience of Solana.

Defi DEV Corp has positioned itself as the first public company that makes Solana the center of his treasury strategy. In addition to collecting and setting up SOL, it is also actively involved in decentralized financial (Defi) opportunities and ecosystem participation. The company’s treasury strategy offers shareholders direct economic exposure to token while the development of Solana supports the development of the Application Layer.

At the time of writing, Sol traded around $ 150.75, a decrease of 1.6% in the last 24-hour period, according to the technical analysis model of Coindesk Research. In the meantime, the wider Crypto market, as measured by the Coindesk 20 -Index (CD20), has risen by 0.13% in the same period.

Technical analysis highlights

• Sol varied from $ 156.28 to $ 150.04 between July 2, 17:00 and 3 July 16:00, as a result of 4.15% volatility.
• Strong resistance was $ 156 during early trading hours, with an above average volume that causes a reversal.
• Price dropped under the key support at $ 152 during the period from 12:00-15: 00 and settled at $ 150.44.
• In the last hour (15: 16–16: 15 UTC) Sol dropped 0.63% from $ 151.85 to $ 150.89.
• A sharp sale took place at 3:35 PM UTC, with price falling to $ 150.44 on high volume (213.6k).
• Support emerged at $ 150.35 with increasing buy-side activity and a modest recovery in the last minutes.

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