8 hours ago
Solana's on-chain fundamentals gained a large ballot of assurance connected Thursday arsenic Florida-based DeFi Development Corp (DFDV) announced it had expanded its SOL SOL treasury by acquiring 17,760 further tokens. The purchase, valued astatine astir $2.72 million, was executed astatine an mean terms of $153.10 per token. This determination aligns with the company’s stated semipermanent strategy of compounding SOL holdings and staking rewards.
Following this acquisition, DeFi Dev Corp's full holdings reached 640,585 SOL and SOL equivalents, representing a U.S. dollar worth of astir $98.1 million. Based connected the company’s past reported full of 14,740,779 shares outstanding, the existent SOL-per-share (SPS) stands astatine 0.042, oregon astir $6.65 per stock utilizing the day’s terms data.
All recently acquired SOL volition beryllium staked with a assortment of validators, including DeFi Dev Corp’s ain infrastructure connected the Solana network. This attack enables the institution to gain autochthonal output done staking rewards and validator fees, portion straight contributing to Solana’s decentralization and operational resilience.
DeFi Dev Corp has positioned itself arsenic the archetypal nationalist institution to marque Solana the centerpiece of its treasury strategy. In summation to accumulating and staking SOL, it is besides actively engaged successful decentralized concern (DeFi) opportunities and ecosystem participation. The company’s treasury strategy offers shareholders nonstop economical vulnerability to the token portion supporting Solana’s application-layer development.
At the clip of writing, SOL was trading astatine astir $150.75, down 1.6% successful the past 24-hour period, according to CoinDesk Research's method investigation model. Meanwhile, the broader crypto market, arsenic gauged by the CoinDesk 20 Index (CD20), is up 0.13% successful the aforesaid period.
Technical Analysis Highlights
- SOL ranged from $156.28 to $150.04 betwixt July 2 17:00 and July 3 16:00, reflecting 4.15% volatility.
- Strong absorption formed astatine $156 during aboriginal trading hours, with above-average measurement triggering a reversal.
- Price dropped beneath cardinal enactment astatine $152 during the 12:00–15:00 period, settling astatine $150.44.
- In the last hr (15:16–16:15 UTC), SOL declined 0.63% from $151.85 to $150.89.
- A crisp selloff occurred astatine 15:35 UTC, with terms dropping to $150.44 connected precocious measurement (213.6K).
- Support emerged astatine $150.35 with expanding buy-side enactment and a humble betterment successful the last minutes.
Disclaimer: Parts of this nonfiction were generated with the assistance from AI tools and reviewed by our editorial squad to guarantee accuracy and adherence to our standards. For much information, see CoinDesk's afloat AI Policy.
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