Cantor Fitzgerald has officially kicked off coverage today on the trio of leading Solana (SOL) treasury managers—DeFi Development (DFDV), Upexi (UPXI), and Sol Strategies (HODL)—assigning each an overweight rating. In their first formal analyses, the broker attached ambitious price targets: $45 for DeFi Development, CA$54 (~US$40) for Sol Strategies, and $16 for Upexi.
Led by Thomas Shinske, the Cantor team articulated a compelling thesis: these firms are staking a bold claim on an on‐chain future for finance, and they’ve identified Solana as the optimal blockchain for that journey. Solana’s principal rival remains Ethereum—but, according to Cantor, Solana outpaces ETH “on every metric.” Developer activity on Sol is significantly more robust and accelerated than Ethereum’s, making it a more sensible choice for treasury holdings.
Cantor further underscores that investor confidence in Solana‐based treasuries signals a broader conviction: SOL has the potential to eclipse Ethereum. That’s notable, given Ethereum still maintains a market capitalization more than 2.5 × that of SOL.
Complementing this, Benzinga emphasized that staking yields give Solana treasury companies an edge—enabling them to expand SOL per share faster than their Bitcoin‐treasury counterparts. They highlighted Solana’s impressive throughput (~65,000 TPS) and negligible fees (<$0.01), which make it a credible challenger to Ethereum.
In summary, Cantor’s inaugural research positions DFDV, UPXI, and HODL as well‐positioned beneficiaries of Solana’s rising prominence. With overweight ratings and robust price targets, the brokerage underscores their edge in capitalizing on SOL’s growth trajectory, while advocating that Solana’s vibrant developer ecosystem and superior technology make it a smarter treasury pick than Ethereum.
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