- Sharps Technology, Upexi, and DFDV lead holdings; treasuries seek scalable yield via staking and validator revenues alongside liquidity.
- DFDV acquired 57% of SOL below $150, operates a validator, posts roughly 1.12x mNAV; attractiveness depends investor risk.
Corporate treasuries are broadening their crypto exposure beyond bitcoin. Recent disclosures show growing interest in Solana (SOL), with firms seeking balance-sheet assets that can scale and produce onchain yield.
Data from Strategic Solana Reserve indicates that 13 public companies and funds now hold about 8.68 million SOL, up 136% since June, suggesting sustained accumulation even as headline prices fluctuate.
Sharps Technology leads reported holders with roughly 2.14 million SOL, followed by Upexi with 2 million, while DeFi Development (DFDV) holds about 1.83 million; these positions translate into hundreds of millions of dollars at current prices and, crucially, give treasuries a liquid asset that can also earn staking rewards.
ETHNews analysts argue that some corporates view BTC accumulation as crowded and late, whereas SOL and ether still offer perceived entry points with operational utility.
The company acquired about 57% of its SOL below $150, operates a Solana validator, and captures staking commissions, which together lower its effective carrying cost over time and add a recurring revenue layer.
Analyst Mandela Amoussou points to DFDV’s market-to-net-asset value (mNAV) of roughly 1.12x as “attractive,” while cautioning that interpretation depends on each investor’s risk posture and time horizon.
‘At current levels, DFDV is starting to look attractive again due to its early pivot to SOL, which provides a low average cost basis, the strategy of obtaining and purchasing discounted locked SOL, and the yield from staking and validator income, which together create a basis for cumulative growth.’
Mandela Amoussou, financial analyst.
DFDV’s equity fell more than 70% from April highs and dropped about 20% on the same day it announced a $125 million raise to buy additional SOL, a contrast to earlier months when similar announcements lifted share prices.
Risks include equity dilution, premium compression relative to net assets, and softer appetite for crypto-heavy treasuries if broader sentiment cools; bitcoin’s dominance can also cap flows into SOL during risk-off stretches.
Even so, analyst Mike Fay expects SOL to revisit prior highs this year, noting that corporates can accumulate size without sharp price dislocations. For investors, the decision reduces to cost basis, treasury discipline, and tolerance for volatility.
If Solana strengthens and staking income persists, early corporate adopters—DFDV among them—could convert balance-sheet strategy into equity value; if conditions weaken, dilution and tracking error may outweigh the carry.
Solana (SOL) Price Report – August 31, 2025
Solana (SOL) is currently trading at $203.57 USD, marking a 1.7% increase in the last 24 hours, though it reflects a -0.14% decline over the past 7 days.
With a market capitalization of $110.1 billion and a 24-hour trading volume of $4.75 billion, Solana holds the #6 position globally. The circulating supply is 540.9 million SOL out of a total of 608.7 million. SOL remains 30.7% below its all-time high of $293.31, but still over 40,000% above its historical low of $0.50 USD.
The latest updates today emphasize Solana’s price amid broader market volatility. Analysts point to a bullish structure forming above $200, with resistance levels near $206 USD and potential upside toward $220 USD if buying momentum persists.
Another key development is that Solana has surpassed Ethereum in staked share, offering double-digit staking yields that continue to attract long-term holders. This strengthens Solana’s position in the staking sector and reinforces its appeal as a yield-generating Layer 1 blockchain.
Additionally, the U.S. SEC has intensified discussions on pending Solana Spot ETF applications, though initial filings are still struggling to gather the same momentum as Bitcoin and Ethereum ETFs.
Nonetheless, institutional attention toward Solana is growing, particularly as its validator diversity expands through clients like Jito, Firedancer, and Sig, enhancing network resilience.
