What Solana’s 108% Growth Means For Its Price Outlook

The newest shareholder letter from DeFi Development Corp., a Nasdaq-listed Solana treasury firm, exhibits that its totally transformed SOL per share has grown 108% over the previous 12 months, rising from 0.0322 on May 13, 2025, to 0.0670 on May 13, 2026. 

The progress is notable as a result of it got here throughout a tough interval for Solana’s value motion, significantly within the first quarter of 2026, the place the SOL value has been struggling with bearish momentum.

Solana Treasury Growth Shows A New Source Of Demand

According to a May shareholder letter from DeFi Development Corp., a Solana treasury firm, the corporate has greater than doubled its totally transformed SOL per share into 108%. 

The 108% progress highlighted by DeFi Development Corp. is predicated on SOL per share, a metric the corporate makes use of to measure how a lot Solana backs every totally transformed share. The firm reported 2,294,576 SOL and SOL equivalents as of May 13, 2026, with roughly 34.2 million totally transformed shares excellent. Interestingly, its totally transformed SPS rose 1% from March 30 to May 13 and 108% from the identical date final 12 months to 0.0670 as of May 13, 2026.

DeFi Development Corp. isn’t merely shopping for SOL and ready for price appreciation. The firm mentioned greater than 25% of its treasury is deployed onchain, whereas its validator operations generate about 7.5% yield in comparison with roughly 3.9% from staking SOL by way of Coinbase. The shareholder letter additionally estimated that this unfold represents about $7.6 million in annualized incremental yield on its present treasury. 

What This 108% Growth Means For Solana Price

This 108% progress in DeFi Development Corp.’s totally transformed SOL per share exhibits that Solana is starting to draw the identical form of company treasury conviction much like Bitcoin and Ethereum. Bitcoin has had companies such as Strategy, Metaplanet, and MARA Holdings constructing steadiness sheet methods round BTC. Ethereum has additionally developed its own treasury category, with firms like BitMine Immersion Technologies.

DeFi Development Corp.’s technique is constructed round accumulating SOL, staking it, deploying a part of it throughout Solana DeFi, and utilizing capital markets solely when it could enhance SOL publicity per share. This means SOL is attracting a class of demand that’s extra structured than regular spot-market shopping for.

Interestingly, DeFi Development Corp. is one of a few different firms that maintain SOL as their main company reserve asset. Other firms like Forward Industries, Inc. and Upexi Inc. even have hundreds of thousands of SOL tokens on their steadiness sheets. 

This has actual value implications for Solana, as this creates a special form of demand base. Treasury firms like these talked about above are long-term holders. Retail demand can disappear shortly, however company treasury demand is extra structured and often tied to long-term conviction.

Featured picture from Bunq, chart from TradingView