Solana-based corporate treasuries have surpassed $4 billion, with holdings of about 17 million SOL (almost 3% of total supply).
A co-founder has projected a $1,000 target for the SOL price based on its recent momentum. This comes as a growing wave of institutional demand has pushed Solana-based corporate treasuries past the $4 billion valuation mark.
Co-Founder Sets Bold $1,000 SOL Price Target Amid Treasury Push
In a recent post, co-founder and crypto analyst Kaleo projected that the Solana price could eventually hit the $1,000 mark. He argued that a four-digit SOL price is no longer a “meme” but a likely scenario.
Echoing his view, another analyst drew comparisons between the token’s current chart structure and BNB’s recent ATH run. According to them, the altcoin is forming a classic cup-and-handle pattern, with resistance building near $295.
A decisive breakout could open the path toward a SOL price of $500 in the short term, while a continuation of the trend could push valuations into four-digit territory. “History doesn’t repeat, but it often rhymes, and Solana might be next,” the analyst wrote.
Much of the optimism comes from the token’s rapid adoption among corporate treasuries. Brera Holdings PLC recently announced a strategic pivot to become Solmate, a SOL-based digital asset treasury and infrastructure company.
The deal was led by Pulsar Group, with backing from the Solana Foundation. ARK Invest also backed the deal as it closed a $300 million private investment. Former Kraken Chief Legal Officer Marco Santori will lead Solmate as CEO. He described the project as a long-term bet on the token’s role across institutional markets, decentralized finance, and NFTs.
Corporate Treasuries Hit $4 Billion
New data from the Strategic Solana Reserve tracker shows that the token’s treasuries have soared to over $4.3 billion. The companies collectively hold approximately 17 million tokens, around 3% of the total supply.
This comes after Forward Industries emerged as the single largest participant, with more than 6.8 million SOL worth $1.61 billion. Other players, including Sharps Technology, DeFi Dev Corp., and Solmate, also reported significant positions of at least $300 million each.
Notably, Forward Industries announced that it has begun a fresh $4 billion financing project for its treasury. The program provides the firm with the flexibility to issue and sell shares as needed. Proceeds from the offering will be directed toward working capital, income-generating assets, and, most importantly, expanding its holdings.
Moreso, Classover Holdings, currently ranked ninth on the rankings, had shared plans to build on its holdings. The firm revealed a $550 million purchase plan for its SOL treasury after it struck a deal with Solana Growth Ventures LLC.
In other developments, DeFi Dev Corp. announced it will expand its Treasury Accelerator program. They intend to deploy between $5 million and $75 million per vehicle into digital asset reserves worldwide.
