Financial services firm Cantor Fitzgerald has begun coverage of public companies with Solana treasuries, emphasizing their prospective value and significance in digital finance.
Overview of Companies with Solana Treasuries
Analysts led by Thomas Shinske noted that companies such as Sol Strategies (HODL), Upexi (UPX), and Defi Development (DFDV) have significant potential. Currently, their stock prices are trading at C$2.48 for HODL, $9.84 for UPX, and $31.06 for DFDV, with price targets set at C$54 for HODL, $16 for UPX, and $45 for DFDV.
Advantages of Solana over Ethereum
Cantor analysts stated that Solana is better suited for treasury holdings than Ethereum. They believe Solana's technology surpasses Ethereum on every metric and predict growing interest in SOL as a treasury asset.
New Investments in SOL
According to Cantor, more companies are adopting the SOL strategy. Recently, Hong Kong-listed MemeStrategy acquired 2,440 SOL for about $369,000, leading to a stock price increase of over 28%. Nevertheless, the price of SOL itself has fallen by 3.24% in the last 24 hours.
The strategy of investing in Solana treasuries is gaining popularity among public companies, despite current declines in interest in the network. The market is expected to grow, supported by positive analytical data on Solana.
