Cantor initiated coverage of the three largest solana
Treasury Companies Defi Development (DFDV), Upexi (UPXI) and SOL strategies (HODL) with overweight rating, said the Wall Street company in a research report on Monday.
The broker has a price objective of $ 45 for Defi Development, a C $ 54 objective for SOL strategies and a price target of $ 16 for Upexi.
“We believe that Sol Treasury companies bet that the future of finance will be on the chain and that the selection chain will be solana,” wrote analysts led by Thomas Shinske.
The biggest competitor of Solana is the Ethereum -Blockchain, Cantor noted, but the technology is useful than its larger pear on every metric.
“Developer growth on SOL recently surpassed ETH and we expect this to continue,” the authors wrote.
That is why the use of Solana as Treasury Asset is more logical than the use of ether
said the report.
The report added that companies that have taken over Solana as a treasury actively are of the opinion that the crypto ether can catch up, which currently has a market capitalization 2.5 times larger than SOL.
Read more: Defi adds $ 5 billion solana -buying power with a new line of credit