The Nasdaq goes to record SOL Methods, the third-largest company Solana holder. Though a number of rivals have already been listed, these pivoted to crypto from preexisting enterprise ventures.
In different phrases, this itemizing reveals that the Nasdaq is keen on crypto treasury companies as such. Yesterday, its marketing campaign to scrutinize these companies introduced down inventory costs throughout the sector, making this a welcome olive department.
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Solana on the Nasdaq
Digital Asset Treasury (DAT) companies have been a worldwide phenomenon currently, and the Nasdaq is itemizing a number of of them. It’s been buying and selling shares in ETH holders, main Bitcoin miner/DATs, and now, the Nasdaq is including a Solana treasury within the combine:
SOL Methods, the third-largest Solana DAT, is the fourth company holder to obtain a Nasdaq itemizing, nevertheless it has just a few distinct benefits.
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The opposite three firms, Upexi, DeFi Improvement, and Exodus Motion, all started as unrelated companies. They solely just lately shifted to Solana.
Hidden Advantages and Benefits?
In different phrases, these firms obtained Nasdaq listings for unrelated enterprise ventures, not for his or her Solana treasuries. SOL Methods, against this, has been stockpiling tokens for for much longer than its rivals.
A current research reveals that it’s been staking tokens extra successfully than them, too, reaping passive earnings from its holdings.
SOL Methods may due to this fact have an opportunity to face out on this sector, and this itemizing might give it the right alternative. Though this Solana DAT gained’t begin buying and selling on the Nasdaq till September 9, it has already been listed on Canadian exchanges.
By these metrics, immediately’s growth has been extremely bullish:
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Nonetheless, this Nasdaq itemizing gained’t essentially assure the agency its place as the highest Solana DAT. Regardless of its head-start, dedication to crypto, and aggressive staking, it’s nonetheless solely the third-largest company holder.
Competitors is simply getting stiffer, particularly since a tripartite plan to construct a $1 billion SOL treasury made substantial progress immediately.
For now, although, it’s clear that the Nasdaq is keen on DATs, Solana, or in any other case. Though it just lately started a marketing campaign to scrutinize DAT companies for fiscal malfeasance, this doesn’t represent full-blown aggression.
The Nasdaq’s investigation briefly brought on inventory costs to dip throughout this entire sector, so this olive department is nice information as effectively.