DeFi Development Corp, or NASDAQ: DFDV, a company specializing in software services and data assets for the real estate industry, is seeing a surge. According to on-chain reports shared by analytics firm InvestingPro, the stock price has surged by 1,841% since its inception.
The analytics firm observed that DFDV just invested in procuring 16,447 Solana. The acquisition is allegedly part of the ongoing crypto strategy. Each token was priced at around $139.66 at the time of acquisition, bringing the investment close to $2.3 million.
Sizeable Investment That Can Change The Landscape
Even though the investment can change the dynamic of the landscape, insiders claim that this investment is not meant for their long-term strategy. The company would use it to stake the token with other validators.
DeFi Development Corp. specializes in maintaining a treasury policy with Solana as its principal asset. The strategy is meant to create exposure for SOL tokens. Which could drive institutional interest in the token.
There has been some positive traction in the ecosystem. Now, the real question is more about the longevity of the whole price movement. While some believe the price action would eventually subside, some insiders believe this could push the price towards the next resistance level.
