On August 13, DeFi Development Corp (DDC) released a shareholder letter on Tuesday, revealing that the company currently holds over 1.3 million SOL Tokens, with a total value of nearly 250 million dollars. The report shows that the company increased its holdings by 4,500 SOL in just the first two weeks of August.
According to DDC's financial data for the second quarter, the quarterly revenue was $1.98 million, a year-on-year increase of 395%; net profit reached $15.4 million, compared to a loss of $800,000 in the same period last year. The company expects its validator and staking business to achieve an annualized return of 10%, which, based on the current amount of coins held, would generate approximately $63,000 in SOL-denominated revenue per day.