k´Cantor Fitzgerald, a leading global investment bank, has initiated coverage on three public companies with significant Solana holdings, forecasting up to 75% upside for their shares as institutional interest in blockchain assets accelerates. The move signals growing confidence in Solana’s role as a next-generation treasury asset, potentially rivaling the dominance of Bitcoin and Ethereum in corporate balance sheets .
Cantor’s Picks: DFDV, UPXI, and HODL
The three companies—DeFi Development Corp (DFDV), Upexi (UPXI), and SOL Strategies (HODL)—have each received an “overweight” rating from Cantor, indicating expectations of outperformance relative to the broader market. The bank’s price targets are $45 for DFDV, $16 for UPXI, and C$4 (US$2.95) for HODL, representing potential gains of 60–75% from current levels .
| Company | Ticker | Current Price | Cantor Target | Potential Upside |
| DeFi Development Corp | DFDV | $31.06 | $45 | 74.9% |
| Upexi | UPXI | $9.84 | $16 | 59.8% |
| SOL Strategies | HODL | C$2.48 (US$1.83) | C$4 (US$2.95) | 65.3% |
DFDV stands out for its robust validator infrastructure and crypto-native leadership, operating two validator nodes on the Solana network. HODL, based in Canada, runs four validators and has forged partnerships within the Solana ecosystem. UPXI, while not operating validators, benefits from its large SOL reserves and U.S. market presence .
Why Solana? A Technological Edge
Cantor’s analysts highlight Solana’s technical advantages over Ethereum, particularly its ability to process up to 65,000 transactions per second with fees consistently below $0.01. Unlike Ethereum, which relies on external Layer 2 solutions for scaling, Solana’s all-in-one architecture keeps transactions unified and costs low. This design, according to Cantor, allows Solana to retain more value on-chain and avoid the fragmentation seen in Ethereum’s ecosystem .
“If we are comparing Layer-1s, Solana’s technology is meaningfully better than Ethereum across every metric,” Cantor’s report states.
The analysts also note that developer activity on Solana has recently outpaced Ethereum, a trend they expect to continue as more projects and capital flow into the network .
Staking and Corporate Treasury Potential
A key factor in Cantor’s bullish outlook is the ability of these companies to stake their Solana holdings, earning rewards and increasing their SOL-per-share organically. This approach mirrors the “Bitcoin treasury” strategy pioneered by firms like MicroStrategy, but with the added benefit of staking yields and Solana’s rapid ecosystem growth .
Cantor suggests that Solana-focused stocks could represent the next evolution of corporate crypto reserves, offering both exposure to price appreciation and the compounding effect of staking rewards.
Market Context and Institutional Momentum
The report comes amid renewed institutional interest in altcoins, with Solana and Ethereum both rallying as investors diversify beyond Bitcoin. The launch of new Solana ETFs and growing developer activity further underscore the network’s momentum in the digital asset space.
