Cantor: Adopting SOL as a reserve strategy is superior to ETH, companies purchasing SOL should trade at a premium

According to Jinse Finance, Wall Street firm Cantor has initiated coverage of Solana financial companies DeFi Development, Upexi, and Sol Strategies, assigning them an Overweight rating. The brokerage has set a price target of $45 for DeFi Development, C$54 for Sol Strategies, and $16 for Upexi. Analysts led by Thomas Shinske wrote, “We believe that SOL financial companies are betting on the future of finance being on-chain, with Solana as the preferred blockchain.” Cantor pointed out that Solana’s biggest competitor is the Ethereum blockchain, but its technology outperforms its larger peer across various metrics, making it more meaningful to use Solana as a financial asset than Ether. The analysts wrote, “Developer growth on SOL has recently far outpaced that on ETH, and we expect this trend to continue.”