Solana Surges Past Bitcoin and Ethereum Amid DeFi Development's $77 Million SOL Purchase

Solana (SOL) outperformed larger cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) after DeFi Development Corp. (DFDV) purchased $77 million in SOL for corporate reserves. SOL broke past its price resistance from February to a high of $216, energizing the derivatives market with a 10% increase in open interest. The company's treasury now holds 1,831,011 SOL, worth over $394 million.

Solana (SOL) has seen significant price appreciation and increased market activity following DeFi Development Corp. (DFDV) purchasing $77 million worth of SOL for its corporate reserves. The move, announced on August 28, 2025, pushed SOL past its February price resistance, reaching a high of $216 and driving a 10% increase in derivatives market open interest [2].

DFDV, a pioneering U.S. public company focused on accumulating and compounding SOL, has now increased its Solana holdings to 1,831,011 tokens, valued at over $394 million. This substantial investment reflects the company's strategic long-term bet on crypto as a core corporate asset. The latest acquisition, executed at an average price of $188.98 per token, represents a 29% boost from the company's prior balance of 1.42 million tokens [2].

The newly acquired SOL will be staked across validators, including DFDV’s own infrastructure, to generate native yield and compound the company's holdings organically through network rewards. This approach transforms the company's treasury into a productive, revenue-generating engine, leveraging crypto-economics directly on its balance sheet [2].

For equity investors, the Solana-per-share (SPS) metric remains critical. Currently, the SPS stands at 0.0864, meaning each share of DFDV stock is backed by that amount of SOL, or roughly $17.52 at current valuations. Despite the potential dilution from the recent financing round, the company projects that its ongoing accumulation strategy will prevent the SPS from falling below a baseline of 0.0675, signaling confidence in continued per-share growth [2].

References:
[1] https://www.rttnews.com/3568879/defi-development-corp-announces-125-mln-equity-raise-to-expand-solana-treasury.aspx
[2] https://crypto.news/defi-dev-corp-lifts-solana-treasury-to-317m-with-new-purchase/