DeFi Development Corp has acquired a significant volume of Solana (SOL), bringing its total holdings close to one million SOL, valued over $200 million. The Florida-based firm purchased 141,383 SOL between July 14-20 at an average price of $133.53 and staked all newly acquired tokens. This strategy of leveraging volatility allows firms to issue shares and acquire more tokens to increase per-share value. In July, DeFi Dev Corp raised $19.2 million through the issuance of 740,000 shares, focusing most of these proceeds on SOL purchases. Another player, Upexi, purchased 100,000 SOL for $17.7 million, making it the largest publicly-held company in terms of SOL holdings. Upexi's acquisition included locked tokens, which led to an unrealized gain of around $94.7 million over the past quarter. Companies like DeFi Development Corp and Upexi are part of a growing trend in public-market strategies that prioritize aggressive positioning in the volatile crypto market for treasury building.

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