JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
BOCA RATON - DeFi Development Corp. (NASDAQ:DFDV) announced Tuesday the purchase of 47,272 Solana (SOL) tokens at an average price of $149.09, valued at approximately $7.03 million. The company, currently valued at $340.66 million, has shown remarkable momentum with a 10% return over the past week, according to InvestingPro data.
Following the transaction, the company now holds approximately 690,420 SOL and SOL equivalents valued at about $102.7 million, including staking rewards. This represents a 64.1% increase from the 420,690 SOL held by the company 60 days ago. The stock has demonstrated exceptional performance, surging over 2,800% in the past six months. InvestingPro analysis indicates the stock is currently trading above its Fair Value, with analysts setting a $45 price target.
According to the company’s statement, the newly acquired tokens will be held long-term and staked across various validators, including DeFi Development Corp.’s own Solana validators, to generate yield. While maintaining a healthy current ratio of 2.89 and impressive gross profit margins of 98.47%, the company is yet to achieve profitability, with the next earnings report scheduled for August 19, 2025.
As of July 8, 2025, the company reports that its SOL holdings equate to 0.0397 SOL per share, or approximately $5.90 per share, based on 17,402,299 total outstanding shares as of June 30.
DeFi Development Corp. describes itself as the first public company with a treasury strategy built to accumulate and compound Solana. The company has adopted a treasury policy under which SOL serves as the principal holding in its reserve.
In addition to holding and staking SOL, the company operates validator infrastructure and explores decentralized finance opportunities within the Solana ecosystem.
The company stated it will continue to provide updates on its treasury and underlying strategies through public releases and regulatory filings.
In other recent news, DeFi Development Corp. announced the pricing of a $112.5 million convertible notes offering, which is expected to close soon. The notes, due in 2030, have a conversion premium of approximately 10%, with an initial conversion price set around $23.11 per share. The company plans to use the proceeds from this offering to fund a prepaid forward stock purchase transaction and for general corporate purposes, including acquiring more Solana (SOL) tokens. Additionally, DeFi Development Corp. recently acquired 17,760 Solana tokens for $2.72 million, bringing its total holdings to approximately 640,585 SOL and equivalents valued at about $98.1 million. The company continues to focus on its strategy of accumulating and compounding Solana, with the newly purchased tokens being staked to generate yield. Furthermore, DeFi Development Corp. has planned another $100 million convertible notes offering, with an option for initial purchasers to buy an additional $25 million in notes. The proceeds from this offering will also support stock repurchases and further Solana acquisitions. These developments reflect the company’s ongoing commitment to its treasury strategy centered on Solana.
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