DeFi Development Corp. Eyes $1 Billion Raise to Boost Solana Holdings

utoday
04-27

DeFi Development Corp. (JNVR), formerly known as Janover, has filed a registration statement with the SEC to offer up to $1 billion worth of securities as it pivots deeper into a Solana-centric treasury strategy.

According to the filing, the proceeds from the offering, which includes common and preferred stock, debt instruments, warrants, and units, will be used for general corporate purposes, with a clear focus on acquiring more Solana.

The firm has already invested $48.2 million into Solana as part of its updated corporate strategy, marking a sharp shift from its previous focus as a commercial real estate lending technology platform.

With this move, DeFi Development Corp. is positioning itself aggressively within the crypto ecosystem, betting heavily on Solana’s continued growth and adoption.

SOL high performance progresses 

Data from DefiLlama shows that SOL earned $1.49 million in fees in the period under consideration. This was from its Total Value Locked assets worth $8.841 billion. Despite having a higher Total Value Locked of $58.741 billion, Ethereum could only manage chain fees of $1.09 million.

his suggests that Solana is seeing more vigorous DeFi activity than Ethereum. This could signal that users are shifting increasingly toward Solana due to its cheaper and faster transaction throughput. As seen from the data, users are interacting less with Ethereum.

According to CoinMarketCap data, SOL has recently reclaimed its key resistance level of $150 and has potential for a further rise. Solana's price was changing hands at $150.03 as of press time, representing a 0.98% increase in the last 24 hours.

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