The most recent shareholder letter from DeFi Improvement Corp., a Nasdaq-listed Solana treasury firm, reveals that its totally transformed SOL per share has grown 108% over the previous 12 months, rising from 0.0322 on Might 13, 2025, to 0.0670 on Might 13, 2026.
The expansion is notable as a result of it got here throughout a troublesome interval for Solana’s value motion, significantly within the first quarter of 2026, the place the SOL value has been fighting bearish momentum.
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Solana Treasury Growth Exhibits A New Supply Of Demand
In accordance with a Might shareholder letter from DeFi Improvement 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 Improvement Corp. relies on SOL per share, a metric the corporate makes use of to measure how a lot Solana backs every totally transformed share. The corporate reported 2,294,576 SOL and SOL equivalents as of Might 13, 2026, with roughly 34.2 million totally transformed shares excellent. Curiously, its totally transformed SPS rose 1% from March 30 to Might 13 and 108% from the identical date final 12 months to 0.0670 as of Might 13, 2026.
DeFi Improvement Corp. isn’t merely shopping for SOL and ready for value appreciation. The corporate 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 means 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 Improvement Corp.’s totally transformed SOL per share reveals that Solana is starting to draw the identical form of company treasury conviction much like Bitcoin and Ethereum. Bitcoin has had firms comparable to Technique, Metaplanet, and MARA Holdings constructing stability sheet methods round BTC. Ethereum has additionally developed its personal treasury class, with firms like BitMine Immersion Applied sciences.
DeFi Improvement 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 will possibly enhance SOL publicity per share. This implies SOL is attracting a class of demand that’s extra structured than regular spot-market shopping for.
Curiously, DeFi Improvement Corp. is one of some different firms that maintain SOL as their major company reserve asset. Different firms like Forward Industries, Inc. and Upexi Inc. even have tens of millions of SOL tokens on their stability sheets.
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This has actual value implications for Solana, as this creates a unique form of demand base. Treasury firms like these talked about above are long-term holders. Retail demand can disappear rapidly, however company treasury demand is extra structured and often tied to long-term conviction.
Featured picture from Bunq, chart from TradingView
