In a recent post, co-founder and cryptocurrency analyst Kaleo projected that the price of Solana could reach $1,000. He argued that a four-digit SOL price is no longer a meme, but a probable scenario.
Coinciding with his viewpoint, another analyst compared the current chart structure of the token with the recent ATH of BNB. According to them, the altcoin is forming a classic cup and handle pattern, with resistance near $295.
A decisive breakout could pave the way for a SOL price of $500 in the short term, while a continuation of the trend could push valuations into four-digit territory. "History doesn’t repeat itself, but it often rhymes, and Solana could be next," wrote the analyst.
Much of the optimism is due to the rapid adoption of the token among corporate treasuries. Brera Holdings PLC recently announced a strategic shift to become Solmate, a treasury and digital asset infrastructure company based on SOL.
The agreement was led by Pulsar Group, with backing from the Solana Foundation. ARK Invest also supported the agreement by closing a private investment of 300 million dollars. Former Kraken legal director Marco Santori will lead Solmate as CEO. He described the project as a long-term bet on the role of the token in institutional markets, decentralized finance, and NFTs.
New data from the Strategic Solana Reserve tracker shows that token reserves have skyrocketed to over 4,300 million dollars. Companies collectively own approximately 17 million tokens, about 3% of the total supply.
This comes after Forward Industries established itself as the largest participant, with over 6.8 million SOL worth 1,610 million dollars. Other players, such as Sharps Technology, DeFi Dev Corp., and Solmate, also reported significant positions of at least 300 million dollars each.
It is worth noting that Forward Industries announced the start of a new 4 billion dollar financing project for its treasury. The program gives the company the flexibility to issue and sell shares as needed. The funds from the offering will be allocated to working capital, income-generating assets, and, above all, to the expansion of its assets.
Additionally, Classover Holdings, currently in ninth place in the ranking, had shared plans to expand its holdings. The firm revealed a plan to purchase 550 million dollars for its SOL treasury after reaching an agreement with Solana Growth Ventures LLC.
In other developments, DeFi Dev Corp. announced the expansion of its Treasury Accelerator program. Its intention is to invest between 5 and 75 million dollars per vehicle in digital asset reserves worldwide.
