Latest news with #ThomasShinske
Yahoo
7 days ago
- Business
- Yahoo
Solana Treasury Strategy Better Than ETH, Firms Buying SOL Should Trade at Premium: Cantor
Cantor initiated coverage of the three largest solana SOL treasury companies DeFi Development (DFDV), Upexi (UPXI) and Sol Strategies (HODL) with an overweight rating, the Wall Street firm said in a research report Monday. The broker has a $45 price target for DeFi Development, a C$54 objective for Sol Strategies, and a $16 price target for Upexi. "We believe SOL treasury companies are betting the future of finance will be on-chain and that the chain of choice will be Solana," analysts led by Thomas Shinske wrote. Solana's biggest competitor is the Ethereum blockchain, Cantor noted, but its technology is meaningfully better than its larger peer on every metric. "Developer growth on SOL has far exceeded that on ETH recently, and we expect this to continue," the authors wrote. Therefore, using solana as a treasury asset makes more sense than using ether ETH, the report said. The report added that companies that have adopted solana as a treasury asset believe that the crypto can overtake ether, which currently has a market cap 2.5 times larger than SOL.
Bloomberg
7 days ago
- Business
- Bloomberg
Solana Investors May Benefit As Financial Uses Grow, Cantor Says
Companies looking to invest in the cryptocurrency Solana may benefit from increased use of the coin in the financial industry, according to analysts at Cantor Fitzgerald. While Solana's blockchain has seen its use as a memecoin expand over the past year, it has the potential for more applications as the use of tokenized securities grows in finance, Cantor analyst Thomas Shinske wrote in a note to clients Monday. Though Bitcoin treasury companies like Michael Saylor's Strategy provide investors exposure as a reserve asset, Shinske sees Solana as offering quick, cheap transactions and the ability to use tokens to validate transactions for reward, known as staking.
Yahoo
08-04-2025
- Business
- Yahoo
Coinbase More Than Just Trading Platform, It's 'Mission-Critical' for Crypto, Cantor Says
Coinbase (COIN) is more than just a crypto trading platform, Wall Street broker Cantor said in a research report Tuesday, initiating coverage of the stock. Cantor assumed coverage of the crypto exchange with an overweight rating and a $245 price target. In early trading, the shares were up more than 5%. "Markets are missing what it is doing beyond trading, particularly with its L2 (Base) and its stablecoin relationship with Circle," analysts Brett Knoblauch and Thomas Shinske wrote. Coinbase shares are attractive at current levels, as they are trading at around a 32% discount to historical valuation multiples, the report added. The broker sees both these segments as "instrumental in changing the narrative surrounding COIN, from being a cyclical crypto trading platform to being a mission-critical infrastructure of the crypto economy." The report said the shares are expected to re-rate higher once investors have increased visibility into the earnings potential of Base and stablecoins. Base gives Coinbase an edge, the report said. The layer 2's strong user growth creates a "flywheel effect" that benefits the crypto exchange with more transaction fees. Cantor said the stablecoin opportunity is also being underappreciated by the market, especially given the potential for these cryptocurrencies to displace traditional finance cross-border payment rails. Read more: Cathie Wood's ARK Buys Over $13M Worth Coinbase Shares During Market Rout Sign in to access your portfolio
