BTC $82,172 +0.40% ETH $2,456 +1.37% BNB $730.24 +0.09% XRP $1.34 +0.40% SOL $105.79 +1.04% BTC $82,172 +0.40% ETH $2,456 +1.37% BNB $730.24 +0.09% XRP $1.34 +0.40% SOL $105.79 +1.04%
DeFi Via The Block

DeFi Development Fund Expands SOL Holdings Amid CHAD Rally

20230810_Solana_News-1

DeFi Development Fund — DeFi Development (DFDV) expanded its Solana holdings by 12% last week, accumulating an additional 22,070 SOL as its preferred share token, CHAD, reached record highs.

The fund’s total SOL holdings now stand at approximately 2.59 million tokens. This accumulation occurred amidst a broader market sell-off, highlighting a significant capital deployment into the Solana ecosystem.

Concurrently, DFDV’s CHAD token, a preferred equity instrument representing a claim on the fund’s underlying assets, surged to new all-time highs. The performance of CHAD, which is traded separately from SOL, suggests strong investor confidence in the fund’s strategy and asset base.

The move signals continued institutional-grade accumulation of Solana by structured crypto investment vehicles, even during periods of market volatility.

Original reporting: The Block