Golden Finance News: Wall Street firm Cantor has rated Solana-related financial companies DeFi Development, Upexi and Sol Strategies for the first time, and all have given overweight ratings. Meanwhile, the broker also provided target prices. The target price for DeFi Development is $45, for Sol Strategies it is CAD 54, and for Upexi it is $16.
Analysts led by Thomas Shinske said, “We believe that these SOL finance companies are betting that finance will be on-chain in the future, and Solana will be the preferred chain.” Cantor pointed out that Solana’s biggest competitor is the Ethereum blockchain, but in terms of various indicators, Solana’s technology is much better than that of Ethereum, a larger rival. So, from the perspective of financial assets, using Solana is more reasonable than using Ether.
Analysts also mentioned: “Recently, the number of developers developing on SOL has grown far more than that on ETH, and it is expected that this situation will continue.” This means that Solana’s popularity and development potential in the blockchain development field are increasingly prominent, which also adds an important bargaining chip for it in the competition with Ethereum. For those companies considering incorporating cryptocurrencies into their reserve strategies, Solana might be a choice worth prioritizing. Cantor believes that companies that purchase SOL should conduct transactions at a premium.
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