Solana defies crypto weakness: Will SOL Treasuries lead to a rally?

While Bitcoin is trading at under $111,500 and Ethereum at around $4,500, down almost 2 percent over the past 24 hours, Solana is up more than two percent at $215.
Recently, SOL has demonstrated striking strength – even against Ethereum. While SOL's performance continues to lag behind ETH's by around 15 percent since the beginning of the year, it has gained 13 percent in the past few weeks alone.

Signs of a trend shift in favor of Solana are increasing. This is also due to new SOL treasury companies. In addition to a $1 billion vehicle from Galaxy Digital, Multicoin Capital, and Jump Crypto, a reserve from Pantera Capital is also said to be in the pipeline. This will inject $1.25 billion into the cryptocurrency. These two companies alone could withdraw $2.25 billion of SOL from the market.
Pantera has recently invested several hundred million US dollars in treasury projects of various altcoins – most recently in medical technology company Sharps Technology and its SOL reserve.
“DATs can generate returns to increase net asset value per share, resulting in higher token ownership over time than simply holding spot,” Pantera wrote at the time. “Therefore, owning a DAT could offer higher return potential than holding tokens directly or through an ETF.”
Meanwhile, the crypto space is debating how much SOL these companies are actually removing from the market. The discussion was sparked by crypto connoisseur Avi Felman, who said that the companies will largely only add locked tokens to their balance sheets and dump their shares to retail.
Meanwhile, the biggest winner in the altcoin market is Pyth Network, which has surged almost 90 percent in the past 24 hours. This is because, in addition to Chainlink, the emerging oracle is also being used to bring US economic data on-chain.

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