What to know:
- Cantor initiates coverage of solana treasury companies DeFi Development, Upexi, and Sol Strategies with an overweight rating.
- The broker suggests these treasury companies should trade at a premium to the NAV of their solana holdings.
- Cantor says using solana over ether as a treasury asset makes sense.
In a research report that’s sure to make you go “hmmm,” Cantor Fitzgerald has initiated coverage of the three largest solana treasury companies DeFi Development (DFDV), Upexi (UPXI), and Sol Strategies (HODL) with an overweight rating.
The broker has a $45 price target for DeFi Development, a C$54 objective for Sol Strategies, and a $16 price target for Upexi. 💸
“We believe SOL treasury companies are betting the future of finance will be on-chain and that the chain of choice will be Solana,” analysts led by Thomas Shinske wrote. 🔮
Solana’s biggest competitor is the Ethereum blockchain, but Cantor noted that its technology is meaningfully better than its larger peer on every metric. 🥇
“Developer growth on SOL has far exceeded that on ETH recently, and we expect this to continue,” the authors wrote. 🚀
Therefore, using solana as a treasury asset makes more sense than using ether, the report said. 💡
The report added that companies that have adopted solana as a treasury asset believe that the crypto can overtake ether, which currently has a market cap 2.5 times larger than SOL. 🌊
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2025-06-16 22:12