DeFi Development Corp adds $11.5 million in Solana tokens

DeFi Development Corporation, formerly Janover, has expanded its Solana (CRYPTO:SOL) treasury by acquiring an additional 88,164 SOL tokens valued at $11.5 million.

This purchase raises the company’s total Solana holdings to approximately $34.4 million.

The announcement came on April 22 following a buyout led by former Kraken executives, who acquired the firm on April 7 and initiated a strategic shift toward cryptocurrency investments.

Prior to the acquisition, Janover operated in real estate financing, connecting lenders with commercial property buyers.

Since the takeover, DeFi Development Corporation has made multiple SOL purchases, including a $10.5 million acquisition on April 16.

The company plans to stake its Solana tokens to generate yield, leveraging the staking process that involves locking up cryptocurrency to secure the blockchain network and earn rewards.

As of April 21, Solana briefly surpassed Ethereum (CRYPTO:ETH) in total staked value, with over $53.9 billion worth of SOL staked by more than 500,000 wallets, offering an annualised return of 8.31 percent.

Following the announcement, DeFi Development Corporation’s shares (ticker JNVR) rose by 12.83 percent, according to Google Finance.

The move aligns with a growing trend of companies incorporating crypto treasuries into their balance sheets to diversify assets and potentially boost stock performance.

For example, Michael Saylor’s Strategy began adding Bitcoin (CRYPTO:BTC) to its treasury in August 2020, inspiring other firms to follow suit.

Japanese company Metaplanet saw a 4,800 percent rise in share price after announcing a Bitcoin treasury in 2024, while healthcare technology firm Semler Scientific experienced a 30 percent stock increase following its BTC reserve announcement.

Other companies, such as Nasdaq-listed supply chain firm Upexi, have also diversified by creating Solana treasuries.

DeFi Development Corporation’s recent acquisitions and staking plans reflect a strategic pivot toward digital asset management amid growing institutional interest in cryptocurrencies.

At the time of reporting, the Solana (SOL) price was $148.33.