Once upon a rather peculiar day, DeFi Development Corporation—previously hiding under the dreary name Janover—decided it was time to do something utterly bonkers: stuff its treasury full of shiny Solana coins. How many? Oh, just a measly 88,164 SOL, worth a wallet-busting $11.5 million. 🤑 Now their pile of Solana sparkles at a dazzling $34.4 million.
It all happened after a band of Kraken wizards (aka former executives) swooped in on April 7 and snatched up DeFi Development Corporation like it was a last slice of cake. Soon after, they waved their crypto wands and transformed a stodgy old company—previously shuttling money between boring real estate folk—into a buzzing crypto fortress with a shiny new name and a Solana-filled treasure chest.
Since that magical takeover, these crypto conjurers haven’t stopped. They gobbled up more SOL pieces, including a jaw-dropping $10.5 million batch on April 16. Now, the hoard stands proudly at 251,842 SOL tokens. Their master plan? To stake these shiny coins and watch the gold coins flood in (well, sort of… yield and all that).
The market couldn’t resist this dazzling spectacle—shares of DeFi Development Corp (ticker: JNVR) danced upwards by a cheeky 12.83% according to the ever-watchful Google Finance.
For those wondering, staking is like locking your favorite candy in a jar and letting it magically multiply—except in crypto-land, where coins lock arms to keep the blockchain safe and score tasty rewards. Solana wasn’t just playing; on April 21, it outshone Ethereum in staked treasure, boasting a monstrous $53.9 billion in SOL staked by over half a million wallets. And the annual prize for patience? A neat 8.31% return. Not bad for a digital potion, eh?
The Riotous Rise of Crypto Treasure Hunting
Ever since Michael Saylor dusted off his money bags and started hoarding Bitcoin back in August 2020, a curious trend has bubbled up. Companies seeing their crypto chests fill up also see their shares glow brighter—kind of like magic beans, only blockchain-flavored.
Take Japan’s Metaplanet for example. They shouted “Bitcoin treasury!” in 2024 and watched their shares shoot up a staggering 4800% by February 10—though, like all wild beasts, that number has since tamed a bit. Meanwhile, Semler Scientific, the healthcare tech wizards, enjoyed a sprightly 30% stock leap after showing off their own Bitcoin stash.
Not to be left out, companies are stirring other crypto potions too. Upexi, strutting its stuff on Nasdaq, recently unveiled a stash of SOL coins, eager to spice up its digital assets and avoid putting all its eggs in one blockchain basket.
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2025-04-22 22:55