Solana's technology is strong, and companies are rushing to go on-chain, creating a new star in decentralized finance!

Author: SuperEx

Translation: Baihua Blockchain

In recent years, crypto assets have gradually transformed from "rebellious outsiders" to the new face of Wall Street. Cryptocurrencies that were once shunned by institutions are now being actively incorporated into corporate treasury portfolios. After Bitcoin and Ethereum gained widespread acceptance, 2025 welcomed a new competitor: Solana.

Yes, Solana, which was once criticized for multiple outages, is now becoming a "strategic asset" in corporate treasuries, with some positioning it as the "third pillar" after BTC and ETH. This is not hype—it's a clear trend. An increasing number of publicly listed companies are making large-scale bets on SOL and even planning to build their financial infrastructure on the Solana network.

So, the core question is: why choose Solana? Can it really become Wall Street's new darling? Let's delve into the logic behind this emerging shift.

A Filing That Ignited the Craze: Solana Knocks on Nasdaq's Door

It all began with a seemingly ordinary filing: on June 19, Canadian listed company SOL Strategies Inc. submitted Form 40-F to the U.S. Securities and Exchange Commission (SEC), preparing to list on Nasdaq under the ticker "STKE." This company is deeply tied to the Solana ecosystem—not just as a passive holder, but as an on-chain validator node operator and infrastructure provider.

On the surface, this is just another IPO company. But for industry insiders, it is a strong signal: corporate treasuries are no longer satisfied with merely "holding Bitcoin." They are integrating cryptocurrencies into their core business models by operating infrastructure and participating in ecosystem development.

SOL Strategies is not an isolated case. Companies like DeFi Development Corp and Upexi have also recently announced large-scale strategic allocations to SOL and are building businesses directly on Solana. We are witnessing the third wave of corporate crypto treasury allocations.

The Evolution of Corporate Treasuries: From Holding to Deep Integration

To understand why companies are choosing Solana, we first need to look at the three stages of evolution in corporate crypto treasury strategies.

Stage 1: Bitcoin—The Digital Gold Narrative

The earliest corporate adopters—MicroStrategy, Tesla, Block Inc.—viewed BTC as "digital gold," a tool for hedging against inflation and fiat currency devaluation. During the loose monetary cycle of 2020-2021, Bitcoin served as a safe-haven asset. The strategy was simple: buy and hold.

Stage 2: Ethereum—A Productive Asset Generating Yield

As Ethereum transitioned to Proof of Stake (PoS), companies began to see ETH not just as an asset but as a source of yield. For example, Nasdaq-listed SharpLink Gaming acquired over 170,000 ETH and committed to staking 95% of it, aiming to become the "Ethereum version of MicroStrategy." The goal was no longer just asset appreciation but generating income through on-chain activities. This marked a shift from passive holding to productive deployment.

Stage 3: Solana—The Financial Operating System

Now it's Solana's turn, representing the next stage: companies are no longer just holding or generating yield—they are building. Companies like SOL Strategies and DeFi Development Corp are using Solana as core infrastructure, operating validator nodes, providing services, and becoming key contributors to the ecosystem.

This is no longer simple asset management; it is a strategic business model. They are not investing in cryptocurrencies; they are becoming operators of cryptocurrencies.

Why Are Companies Making Heavy Bets on Solana?

The shift of companies towards Solana is not merely FOMO (fear of missing out). There are three major driving forces behind this trend:

1. SOL is an Asset and a Business Engine

For companies like SOL Strategies, SOL is not just a line item on the balance sheet—it is the fuel driving validator node operations. They use internal funds to run validator nodes, attract others' SOL delegations, and earn income through block rewards and commissions.

This is not speculative trading—this is operational revenue. It transforms corporate treasuries from passive investors into active blockchain operators, similar to embedding Bitcoin mining equipment directly into the corporate structure.

2. Solana's Technological Advantages Are Undeniable

Every strategic bet requires a strong technological foundation. Investment bank Cantor Fitzgerald recently stated that Solana "outperforms Ethereum on all technical metrics." This is a bold claim, but it is backed by facts:

• Solana currently supports over 2000 TPS (transactions per second), while Ethereum supports 20-30 TPS.
• Average transaction fees are close to zero—only $0.0001 per transaction.
• The upcoming Firedancer validator is expected to push throughput to millions of TPS.
• The protocol is mature and stable, requiring minimal underlying upgrades.

What does this mean? Solana can support high-frequency trading, real-time payments, social applications, and mobile-first Web3 use cases—areas where Ethereum still struggles.

For companies looking to engage in on-chain finance, settlement, or consumer applications, Solana is arguably the blockchain closest to Web2 capabilities. Choosing Solana is not just a performance choice—it is a strategic bet on the Web3 infrastructure of the next decade.

3. The Trend of Tokenization: Becoming the Next Nasdaq

Solana co-founder Anatoly Yakovenko has expressed his desire for Solana to become "the decentralized Nasdaq." This vision is rapidly coming to fruition.

We have already seen top projects like Worldcoin, Helium, and Jupiter choose Solana for their launches. Regulated real-world asset (RWA) issuers like Superstate are considering issuing tokenized funds on Solana. Even SOL Strategies is exploring tokenizing its own equity on the Solana blockchain.

Yes—you read that right. These companies are not only holding SOL; they are planning to put their own shares on-chain, becoming the foundational layer of the decentralized finance ecosystem.

This is not just participation—it is a declaration: "We are not just using this chain; we are becoming part of this chain."

Conclusion

Solana should not be viewed merely as an "Ethereum alternative" or a speculative asset. Corporate adoption should not be seen as hype.

The real trend is that corporate treasuries are evolving—from holding cryptocurrencies to integrating into ecosystems, and now to operating key infrastructure. With unparalleled performance, powerful developer tools, a growing ecosystem, and institutional momentum, Solana is becoming the preferred platform for this transformation.

Solana may never personally replace Bitcoin or Ethereum. But in the impending wave of on-chain finance, it is becoming an indispensable pillar.

So, if you are still asking, "Is Solana worth buying?"—perhaps a better question is:

In the on-chain economy of the next decade, where do you want to stand? As a holder? A participant? Or a builder?

Article link: https://www.hellobtc.com/kp/du/06/5912.html

Source: https://superex.medium.com/will-solana-become-wall-streets-next-favorite-c1b3e5b56b29

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