Cantor Bullish on Solana Treasury Firms DeFi Development, Upexi, and Sol Strategies

Cantor Fitzgerald has initiated coverage on three leading companies holding Solana (SOL) as a treasury asset—DeFi Development (DFDV), Upexi (UPXI), and Sol Strategies (HODL)—assigning all three an “Overweight” rating. In a research note released Monday, Cantor analysts, led by Thomas Shinske, expressed strong conviction in Solana’s role in shaping the future of on-chain finance.

The firm set a $45 price target for DFDV, a $16 target for UPXI, and a C$54 objective for HODL. Cantor emphasized that these companies are strategically aligned with the belief that Solana will surpass Ethereum as the blockchain of choice due to its superior technology and growing developer adoption.

“Solana’s performance metrics are meaningfully better than Ethereum’s, and its developer base is expanding at a significantly faster rate,” the analysts noted. The report added that the rapid ecosystem growth and low-latency infrastructure make Solana more appealing as a treasury reserve than Ether (ETH), which currently holds a market capitalization 2.5 times larger.

Cantor also pointed out that the rise in Solana adoption reflects growing confidence that SOL could eventually overtake ETH, both in developer activity and market relevance. The firm’s bullish stance on Solana-aligned companies reinforces the view that decentralized finance (DeFi) and blockchain-based treasury strategies are maturing—and Solana is emerging as a prime choice.

The report comes as Solana (SOL) trades around $152.22, with Ethereum (ETH) at $2,566.47. As blockchain adoption accelerates, investors are increasingly watching treasury trends as a leading signal of future institutional crypto strategy.