DeFi Development Corp, the Nasdaq-listed company built around holding Solana, added about 22,070 SOL and SOL equivalents to its treasury last week, according to a Monday press release reported by Decrypt. The purchase was worth approximately $2.37 million and lifted the company’s holdings to roughly 2,586,282 tokens.
At SOL’s recent level near $111, the treasury was valued at about $287 million. The latest acquisition extends a buying strategy that has continued even as the cryptocurrency market weakened, although the size of DeFi Development’s weekly purchases has declined sharply in recent weeks.
The company’s CHAD perpetual preferred stock also reached record highs during the week ended October 9 and was moving toward its $10 stated amount. CHAD shares were initially sold for $8 in a September initial public offering.
A growing Solana treasury
DeFi Development, whose common stock trades under the symbol DFDV, is a digital asset treasury company. Such companies hold a cryptocurrency on their balance sheet, allowing stock-market investors to gain exposure to the asset through shares in the business rather than by opening a crypto account directly.
The company was previously known as Janover, a real estate software business. In April 2025, it changed direction and adopted a Solana-focused strategy modeled on the approach used by Strategy in the Bitcoin market.
Its latest purchase was considerably smaller than earlier acquisitions. DeFi Development bought 101,381 SOL in mid-September, valued at around $11.4 million at the time. The following purchase was 47,706 SOL, worth approximately $5.8 million, followed by 26,202 SOL, valued at about $3.1 million.
Despite the smaller weekly additions, the company said its total treasury had increased 12% since August 12. Chief executive Joseph Onorati said in the release that short-term market volatility had not changed the company’s commitment to accumulating SOL.
Why CHAD’s price matters
CHAD is a perpetual preferred share, meaning it has no maturity date. Preferred shareholders generally receive dividend payments before common shareholders, although the security remains tied to the financial condition and policies of the issuing company.
CHAD pays a variable annual dividend of 13% on its $10 stated amount. That equals $1.30 per share each year, with the dividend declared on every business day. Holders are scheduled to receive $0.00516 per share for each business day through October 30.
The stock’s move toward $10 is important to DeFi Development’s financing plan. The company has a $300 million at-the-market program that allows it to issue new CHAD shares gradually at prevailing market prices. If CHAD trades closer to its $10 stated amount, each new share can raise more money for additional SOL purchases than it would at a substantially lower price.
DeFi Development also authorized buybacks for periods when CHAD trades below its $10 stated amount. That policy came shortly after the shares were issued at $8, meaning the recent record highs represent a substantial recovery from the IPO price rather than a large premium over the stated amount.
Chief Strategy Officer Dan Kang said CHAD’s performance suggested investors were recognizing its income characteristics even while SOL had pulled back. He also said the preferred stock could provide funding for growth in SOL held per common share without requiring the company to issue more common stock.
The company cautions that staking rewards may not be sufficient to cover CHAD’s dividends. The 13% rate therefore does not remove the risks associated with the underlying business, its financing structure or the price of SOL.
Common shares and SOL face pressure
DFDV common stock traded near $4.41 on Monday, giving the company a market value of about $144 million, compared with approximately $287 million worth of SOL in its treasury. The company also carries debt, so the comparison between its equity value and cryptocurrency holdings does not represent a complete balance-sheet valuation.
SOL has fallen about 9% over seven days in the source report, while nearly $1 billion in leveraged long positions were liquidated over 24 hours. Liquidation occurs when exchanges close bullish, borrowed-money positions after a decline leaves traders without enough collateral. The forced selling can add to downward pressure in a falling market.
A lower share price creates a challenge for digital asset treasury companies. If the equity trades below the value of the cryptocurrency held, issuing more shares to buy additional tokens may become less attractive because the financing can dilute shareholders without raising funds at a favorable valuation.
Moneyiar market picture
Moneyiar data recorded at 09:59 on October 13, 2026, showed SOL at $106.7981420825, down 4.3% over 24 hours and 10.68% over seven days. Compound (COMP) stood at $23.3827762095, down 6.55% in 24 hours and 4.17% over seven days.
Velo (VELO) was priced at $0.0047100048, down 5.89% over 24 hours and 18.52% over seven days. RedStone (RED) stood at $0.1560458525, down 6.91% over 24 hours and 5.51% over seven days. These figures are Moneyiar market data at the stated time and are separate from the prices cited in the company’s release.
