Defi Development (DFDV), the NASDAQ-Listed Property Technology Company, previously known as Janover, bought several of Solana’s sun Sun$173.16that took its total crypto holdings over $ 100 million, the company announced on Monday.
The company said it acquired 172,670 sun at an average price of $ 136.81. The $ 23.6 million acquisition is the largest since its crypto pivot last month. The Florida-based company now has 595,988 sun, worth almost $ 105 million at current prices.
The company said tokens will be held in the long term and stabbed with a number of validators, including its own, to serve the action yield. Defi Development’s updated exposure per Stock now stands at 0.293 sun or approx. $ 50.42 per Stock.
The company’s shares rose 20% to $ 90 in the early minutes of the Monday session, adding to the 30% win on Friday as the crypto prices rose over the past few days. Sol advanced over 20% over the past week and affected $ 180 for the first time since February.
The move reflects a growing tendency for public companies to buy cryptocurrencies for their balance, which mimics the playbook to Michael Saylor’s Strategy (MSTR).
While many companies follow Saylor’s lead and focus on Bitcoin BTC$102,668.49The biggest cryptocurrency others look at alternatives. Last month, Janover was taken over by a group of former Crypto Exchange Kraken leaders and turned to focus on Solana Blockchain, who accumulated the network’s original token and operating currants to earn an effort yield. The company recently made plans to collect $ 1 billion to acquire sun.
Read more: Defi -Development Plans to collect $ 1 billion to buy more Solana
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