North American Corporations Are Wolfing Down Solana

Touted as a potential Ethereum killer on its way up in the 2020-24 market cycle, Solana would still have a way to go to flip Ether’s market cap. Regardless, it has gone a long way in that direction as SOL boosters promised.

Over the last year, Bitcoin has outpaced Solana gains as SOL is going through a consolidation period. But over the past five years, SOL delivered over 10,000% ROI to BTC’s 1,100% returns on investment, according to data compiled by TradingView.

In one very bullish sign for both the long term digital currency accumulator and the near term altcoin trader, a pack of corporations is hogging up Solana the way Saylor’s Strategy has been having at Bitcoin.

3 US-Canadian Companies Go Full Saylor on Solana

1. Janover’s Still At It With A Fresh $11.5M SOL Tranche

https://twitter.com/gandreou007/status/1915042986104377794?ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank

The Nasdaq-traded real estate finance platform has former Kraken execs at the helm now, hired on to make a big play in Solana. They added $11.5 million more SOL to their corporate treasury over the past week.

2. Canadian SOL Strategies $500M Bite of Solana

Meanwhile, another company in Canada just made a whopping half-billion-dollar play for Solana. Based on its name, the OTCMKTS-listed corporation seems purpose-built to pile up SOL tokens.

SOL Strategies, Inc. just issued $500 billion in stock-convertible bonds like Strategy does for Bitcoin, all sold to New York-based ATW Partners, in order to stake the tokens for reward-mining validator nodes.

https://twitter.com/solstrategies_/status/1915042768373637387?ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank

3. NASDAQ Listed Upexi Raises $100M for SOL Spree

https://twitter.com/coinphoton/status/1914501155117527442?ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank

In addition to these two corporate blockchain adopters, the Nasdaq-traded consumer brand developer Upexi just raised an astounding $100 million, with plans to use 90% of it to buy SOL. Upexi stocks soared 630% lately. Arthur Hayes was a major backer of the contract.

Big Solana Network Roadmap Milestones in April

4. Solana IoT Network Helium Expanding Like a Balloon

Meanwhile, the Helium network is moving right along, developing its Solana-powered Internet of Things ecosystem.

According to a recent report, Helium hit new all-time highs in April for “DAO voting participation, $MOBILE validator onboarding and usage-based rewards.”

Its $20/month unlimited mobile plan is now available in 3,000 Walmart stores. That shows how developers are building marketable real-world businesses using Solana.

5. Solana Foundation Huge Tweak to Secure Network Distribution

Finally, it may seem like a small note, but the Web3 sector specializes in managing operational security and risk on open networks. The core groups that made Bitcoin, Ethereum, and Solana the successes they are today consider matters like this when trading.

Moving forward, Solana has adjusted its onboarding and off-boarding process to raise more external stake and further decentralize the network’s validator nodes.