DeFi Development Corp. has increased its Solana treasury by 12% since August 12, adding to its holdings despite market volatility. The company reported an additional 22,070 SOL and SOL equivalents over the past week, bringing its total treasury to approximately 2.59 million SOL. The latest figures highlight its continued accumulation strategy as the company explores new funding sources.
DeFi Development Continues SOL Accumulation
The company plans to strengthen its treasury through continued purchases and organic accumulation. Additionally, its newly established $300 million at-the-market offering could provide more capital for future SOL acquisitions.
CEO Joseph Onorati pointed to growing stablecoin adoption and tokenized stock activity on Solana as reasons for maintaining the strategy. Consequently, the company expects expanding blockchain adoption to support its long-term treasury plans.
CHAD Gains Despite Crypto Market Weakness
Meanwhile, CHAD, the company’s variable-rate perpetual preferred stock, reached record trading highs during the week ending October 9. Its performance contrasted with the broader cryptocurrency selloff and Solana’s recent price weakness.
CHAD offers a 13% annual dividend rate based on its $10 stated value. This equals $1.30 per share annually at the current rate, with daily business-day payments when declared.
Related: Bitmine Adds 12,532 ETH as Tom Lee Forecasts Historic Crypto Bull Market
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
