Craig-Hallum initiates coverage on DeFi Development stock with Buy rating

Investing.com - Craig-Hallum initiated coverage on DeFi Development Corp. (NASDAQ:DFDV) with a Buy rating and a $25.00 price target on Monday. The stock, currently trading at $14.61, has shown remarkable momentum with a nearly 1,900% return year-to-date, according to InvestingPro data.

The research firm views DFDV as part of a new asset class of Digital Asset Management companies, comparing it to MicroStrategy’s Bitcoin-focused strategy. DeFi Development, with a market capitalization of $289 million and an overall Fair Financial Health score of "FAIR" from InvestingPro, distinguishes itself as the first company to launch a strategy solely focused on Solana.

DFDV was constructed by a team from Kraken, a digital asset company, with its origins in Janover , a commercial real estate platform. The firm is positioning itself to capitalize on Solana’s blockchain capabilities.

Craig-Hallum highlighted Solana’s advantages as a blockchain platform, noting its faster and cheaper transactions compared to Bitcoin. The research firm also pointed out that Solana enables owners to act as transaction validators and participate in staking rewards, which function similarly to dividends.

The research firm expects multiple successful companies to emerge on top of each blockchain asset and believes DeFi Development has gained an advantage through early innovation in the Solana ecosystem.

In other recent news, DeFi Development Corp. has made significant strides with its Solana (SOL) holdings, acquiring 181,303 SOL tokens between July 21-28, 2025, at an average price of $155.33. This $28 million purchase increases the company’s total SOL holdings to approximately 1,182,685 tokens, valued at around $218 million. The acquisition was funded through the company’s Equity Line of Credit. Additionally, DeFi Development Corp. has formed a strategic partnership with Mayan, a cross-chain trading protocol, to enable trading of its tokenized equity instrument, DFDVx, across multiple blockchain networks. This partnership aims to broaden access to the company’s on-chain equity. In another development, the company announced the launch of its international expansion initiative, the DFDV Treasury Accelerator, supported by major industry players such as Kraken and Pantera. This initiative is designed to support regional public Solana treasury vehicles globally. These recent developments reflect DeFi Development Corp.’s ongoing efforts to expand its presence and capabilities in the blockchain ecosystem.

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