DeFi Development increases holdings of over 170000 Solanas, with holdings exceeding $100 million, leading to a 20% surge in stock price

According to CoinDesk, DeFi Development (code: DFDV), a Nasdaq listed company, announced the purchase of an additional 172670 SOLs at an average price of $136.81 for a total of approximately $23.6 million, increasing its Solana holdings to 595988 with a market value of approximately $105 million. The company's stock price opened up 20% on Monday and has risen 30% since last Friday. DeFi Development has been focusing on the Solana ecosystem since transitioning from Janover last month, and continues to lay out cryptocurrency assets and generate revenue through node staking.