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What Solana’s 108% Growth Means For Its Price Outlook
TL;DR
Solana's fully converted SOL per share increased by 108% over the past year, rising from 0.0322 to 0.0670. This growth occurred despite challenging price conditions in early 2026.
Key points
- Solana's SOL per share grew 108% in one year
- Growth from 0.0322 to 0.0670 per share
- DeFi Development Corp. reported 2,294,576 SOL as of May 2026
Mentioned in this story
DeFi Development Corp.
The latest shareholder letter from DeFi Development Corp., a Nasdaq-listed Solana treasury company, shows that its fully converted SOL per share has grown 108% over the past year, rising from 0.0322 on May 13, 2025, to 0.0670 on May 13, 2026.
The growth is notable because it came during a difficult period for Solana’s price action, particularly in the first quarter of 2026, where the SOL price has been struggling with bearish momentum.
Solana Treasury Growth Shows A New Source Of Demand
According to a May shareholder letter from DeFi Development Corp., a Solana treasury company, the company has more than doubled its fully converted SOL per share into 108%.
The 108% growth highlighted by DeFi Development Corp. is based on SOL per share, a metric the company uses to measure how much Solana backs each fully converted share. The company reported 2,294,576 SOL and SOL equivalents as of May 13, 2026, with approximately 34.2 million fully converted shares outstanding. Interestingly, its fully converted SPS rose 1% from March 30 to May 13 and 108% from the same date last year to 0.0670 as of May 13, 2026.
DeFi Development Corp. is not simply buying SOL and waiting for price appreciation. The company said more than 25% of its treasury is deployed onchain, while its validator operations generate about 7.5% yield compared to roughly 3.9% from staking SOL through Coinbase. The shareholder letter also estimated that this spread represents about $7.6 million in annualized incremental yield on its current treasury.
SOLUSD now trading at $86. Chart: TradingView
What This 108% Growth Means For Solana Price
This 108% growth in DeFi Development Corp.’s fully converted SOL per share shows that Solana is beginning to attract the same kind of corporate treasury conviction similar to Bitcoin and Ethereum. Bitcoin has had companies such as Strategy, Metaplanet, and MARA Holdings building balance sheet strategies around BTC. Ethereum has also developed , with companies like BitMine Immersion Technologies.
Q&A
What caused Solana's 108% growth in SOL per share?
The growth in Solana's fully converted SOL per share is attributed to increased demand as reported by DeFi Development Corp.
How many fully converted shares does DeFi Development Corp. have?
DeFi Development Corp. reported approximately 34.2 million fully converted shares outstanding as of May 13, 2026.
What was Solana's SOL price trend in early 2026?
In the first quarter of 2026, Solana's price struggled with bearish momentum despite the reported growth in SOL per share.
