DeFi Development Corporation (JNVR), formerly Janover, has significantly increased its Solana (SOL) holdings, signalling a strategic shift toward cryptocurrency investments. Following a buyout led by former Kraken executives on April 7, the company has been actively building its Solana-based reserve treasury.
In an April 22 announcement, DeFi Development Corporation revealed the addition of 88,164 SOL tokens, valued at $11.5 million, to its treasury. This purchase brings the company’s total Solana stake to $34.4 million, comprising 251,842 SOL tokens. The company intends to stake these tokens, aiming to generate additional yield through the process of locking up cryptocurrency to support the blockchain network.
The market has reacted positively to these developments, with shares of DeFi Development Corporation (JNVR) rising by 12.83%. This surge reflects growing investor confidence in the company’s new strategic direction.
DeFi Development Corporation’s move mirrors a growing trend among companies to incorporate cryptocurrencies into their treasury strategies. MicroStrategy’s adoption of Bitcoin in August 2020 paved the way for other firms to explore digital assets as part of their financial reserves. Companies like Metaplanet, which announced its Bitcoin treasury in 2024, and Semler Scientific have also seen positive impacts on their stock prices following their entry into the crypto space.
Other companies are now expanding their digital asset strategies to include cryptocurrencies like SOL. Upexi, a Nasdaq-listed supply chain firm, recently announced the creation of a SOL treasury to diversify its assets. Solana briefly surpassed Ethereum in total staked value on April 21, with over $53.9 billion worth of SOL staked by more than 500,000 unique wallet holders, yielding an 8.31% annualised return. Solana’s rapid growth and complexity make it a target for hackers, despite rigorous security measures.
Notably, Solana validators will vote on a proposal to adjust SOL issuance based on staking participation. This aims to increase issuance when staking is low to boost network security and decrease it when staking is high to prevent token dilution. Some community members are skeptical, while Solana’s co-founder opposes a US government-controlled cryptocurrency reserve.
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