Solana Treasury Growth Attracts Corporate Demand

DeFi Development Corp., a Nasdaq-listed Solana treasury company, has reported a significant growth in its fully converted SOL per share over the past year. According to its latest shareholder letter, the value of SOL per share has risen by 108% from May 13, 2025, to May 13, 2026.

This growth is notable given Solana's struggling price action in the first quarter of 2026, which saw bearish momentum. DeFi Development Corp.'s strategy involves deploying its treasury on-chain and through validator operations, generating a yield of around 7.5% compared to staking SOL through Coinbase.

The company estimates that this spread represents an annualized incremental yield of approximately $7.6 million on its current treasury. This increase in SOL value per share indicates a growing interest from corporate treasuries in Solana as a long-term investment, similar to Bitcoin and Ethereum.