Public Companies Boost Solana Holdings for Staking Rewards
The post Public Companies Boost Solana Holdings for Staking Rewards appeared on BitcoinEthereumNews.com. Public companies are scooping up Solana to get a slice of the blockchain’s staking rewards, with three firms recently sharing they’ve purchased more of the token. Bitcoin mining firm Bit Mining said on Tuesday that it made its first Solana (SOL) buy, purchasing 27,191 SOL for $4.5 million, and launching a validator to earn yield by staking the tokens. On Tuesday, Upexi, a brand owner specializing in supply chain management, said it spent most of July buying Solana and increasing its holdings from 735,692 tokens at the end of June to more than 2 million SOL now. On Monday, DeFi Development Corp said it increased its crypto holdings to more than 1.2 million SOL, having bought up another 110,466 tokens. Source: DeFi Development Corp CoinGecko said on Tuesday that the recent buys highlight “a growing trend of Solana exposure among public firms,” with the top four Solana-holding companies controlling over 3.5 million tokens worth more than $591.1 million, representing nearly 0.65% of the SOL circulating supply. Long-term staking plans DeFi Development said after its latest purchase that it would stake its SOL holdings with various validators. The company, formerly called Janover, was mainly a real estate financing company that used an artificial intelligence-powered online platform to connect lenders and commercial property buyers. The firm made its first SOL purchase of 2,858 tokens on April 8 after being acquired by former executives from the crypto exchange Kraken. Upexi CEO Allan Marshall said that July “was a game-changing month” for the company after raising over $200 million for additional SOL purchases and increasing its holdings to more than 2 million tokens. Source: Allan Marshall The firm also staked most of its SOL, which Marshall said earned an 8% yield and pocketed $65,000 a day in revenue. Bit Mining to expand into Solana…
The post Public Companies Boost Solana Holdings for Staking Rewards appeared on BitcoinEthereumNews.com.
Public companies are scooping up Solana to get a slice of the blockchain’s staking rewards, with three firms recently sharing they’ve purchased more of the token. Bitcoin mining firm Bit Mining said on Tuesday that it made its first Solana (SOL) buy, purchasing 27,191 SOL for $4.5 million, and launching a validator to earn yield by staking the tokens. On Tuesday, Upexi, a brand owner specializing in supply chain management, said it spent most of July buying Solana and increasing its holdings from 735,692 tokens at the end of June to more than 2 million SOL now. On Monday, DeFi Development Corp said it increased its crypto holdings to more than 1.2 million SOL, having bought up another 110,466 tokens. Source: DeFi Development Corp CoinGecko said on Tuesday that the recent buys highlight “a growing trend of Solana exposure among public firms,” with the top four Solana-holding companies controlling over 3.5 million tokens worth more than $591.1 million, representing nearly 0.65% of the SOL circulating supply. Long-term staking plans DeFi Development said after its latest purchase that it would stake its SOL holdings with various validators. The company, formerly called Janover, was mainly a real estate financing company that used an artificial intelligence-powered online platform to connect lenders and commercial property buyers. The firm made its first SOL purchase of 2,858 tokens on April 8 after being acquired by former executives from the crypto exchange Kraken. Upexi CEO Allan Marshall said that July “was a game-changing month” for the company after raising over $200 million for additional SOL purchases and increasing its holdings to more than 2 million tokens. Source: Allan Marshall The firm also staked most of its SOL, which Marshall said earned an 8% yield and pocketed $65,000 a day in revenue. Bit Mining to expand into Solana…
What's Your Reaction?
