In a bold assertion that could shake up the crypto markets, Bonk core contributor Nom has suggested that Solana’s Digital Asset Treasury (DAT) vehicles might propel its price ten times faster than Ethereum. The claim, made on August 27, 2025, comes amid a surge of interest in Solana, driven by its relatively smaller market cap and the strategic acquisitions of discounted or locked tokens through these new treasury vehicles.<\/p>\n\n
Nom\u2019s argument hinges on the efficiency of Solana DATs in accumulating what he terms “trading supply,” which differs from the broader “circulating supply” that includes staked assets. \u201cSOL DATs will be more efficient at buying up available supply compared to ETH or BTC DATs,\u201d he wrote. The recent announcements of $2.5 billion in SOL DATs are akin to a massive $30 billion raise for Ethereum or a staggering $91 billion for Bitcoin, given Solana’s unique market dynamics.<\/p>\n\n
The crux of Nom’s analysis is the flow versus float conundrum. He points out that issuance and unlocks exert continuous sell pressure unless balanced by dedicated buyers. \u201cIn order to offset 37.5 million SOL a year at $200 SOL, you need around $7.5 billion in annual inflows,\u201d he calculated, raising the stakes for market participants.<\/p>\n\n
Nom’s insights draw a stark contrast between Solana and Ethereum, especially in terms of how their respective DATs might influence market dynamics. Solana, with a significant portion of its supply staked\u201463.1% to be precise\u2014presents a leaner immediate float. This, according to Nom, means each dollar invested has a more pronounced impact than on chains with lower staking<\/a> penetration. \u201cSolana is at a much lower valuation than ETH or BTC,\u201d he noted, suggesting that a dollar spent on SOL DATs could equate to $5 on ETH DATs or $22 on BTC DATs when adjusting for staking and circulating supply.<\/p>\n\n Nom also highlights the potential of ETFs and corporate vehicles in amplifying market movements. \u201cSSK is doing some of the work at roughly $2 million per day in inflows since launch,\u201d he remarked, but cautioned that the current pace needs to accelerate to meet inflation schedules. The interplay between DATs and ETFs could create a flywheel effect, absorbing supply and driving price upward. This follows a pattern of institutional adoption, which we detailed in our analysis of corporate treasury investments<\/a>.<\/p>\n\n The timing of Nom\u2019s analysis coincides with a flurry of institutional maneuvers. Over the weekend, heavyweights like Galaxy Digital and Multicoin Capital have been negotiating to raise approximately $1 billion for a publicly traded Solana treasury firm, with Cantor Fitzgerald at the helm. This aligns with recent reports that Crypto Giants Galaxy, Jump and Multicoin Seek $1B to Raise Largest Solana Treasury<\/a>. Concurrently, Pantera Capital is contemplating a $1.25 billion investment to transform a Nasdaq-listed entity into a dedicated Solana treasury vehicle.<\/p>\n\n Adding to the momentum, Nasdaq-listed Sharps Technology recently announced a $400 million private placement to establish what it hails as the largest corporate Solana treasury to date. Collectively, these initiatives could channel between $2.5 to $3.0 billion of new institutional demand directly at Solana, underscoring its growing appeal.<\/p>\n\n Despite the optimism, Nom doesn’t shy away from acknowledging potential pitfalls. The overhang from the FTX bankruptcy estate, while diminishing, still casts a shadow. As of now, the estate holds around 5 million SOL tokens, worth about $1 billion\u2014notional. Yet, Nom remains steadfast: \u201cCurrent ETF inflows are not sufficient, but larger vehicles should be approved by start of Q4.\u201d<\/p>\n\n As Solana flirts with the $204 mark, the questions loom larger: Will this treasury boom sustain the momentum? And can Solana indeed outpace Ethereum’s entrenched position? With institutional interest swelling and strategic treasury moves in play, the coming months promise to be anything but predictable.<\/p>\n\n This article is based on: Solana DATs Could Move Price 10x Faster Than Ethereum, Expert Warns<\/a><\/p>\n\n Deepen your understanding with these related articles:<\/p>\n\n In a bold assertion that could shake up the crypto markets, Bonk core contributor Nom has suggested that Solana’s Digital Asset Treasury (DAT) vehicles might…<\/p>\n","protected":false},"author":1,"featured_media":17146,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"category":[19],"tags":[141,38,35,48,53],"class_list":["post-17147","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-altcoins-explained","tag-bitcoin","tag-crypto","tag-ethereum","tag-solana"],"_links":{"self":[{"href":"https:\/\/www.vtrader.io\/news\/wp-json\/wp\/v2\/posts\/17147","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtrader.io\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtrader.io\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtrader.io\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtrader.io\/news\/wp-json\/wp\/v2\/comments?post=17147"}],"version-history":[{"count":0,"href":"https:\/\/www.vtrader.io\/news\/wp-json\/wp\/v2\/posts\/17147\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtrader.io\/news\/wp-json\/wp\/v2\/media\/17146"}],"wp:attachment":[{"href":"https:\/\/www.vtrader.io\/news\/wp-json\/wp\/v2\/media?parent=17147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtrader.io\/news\/wp-json\/wp\/v2\/category?post=17147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtrader.io\/news\/wp-json\/wp\/v2\/tags?post=17147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}A Wave of Institutional Interest<\/h2>\n\n
A Nuanced Outlook<\/h2>\n\n
Source<\/h2>\n\n
Further Reading<\/h2>\n\n
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