- Crypto treasuries have accumulated over 4.3 million SOL, worth nearly $905 million.
- SOL-focused firms like Sharps Technologies and DeFi Development Corp are aggressively acquiring SOL.
- XRP treasury demand remains low, with only SBI Holdings Japan and Worksport Ltd showing interest.
- Both SOL and XRP await Spot ETF approvals, which could shift market dynamics.
- SOL has outperformed XRP by 27% recently, signaling potential momentum for Q4.
SOL Crypto Treasury Gains Momentum
Solana (SOL) has emerged as one of the top choices for corporate crypto treasuries, surpassing XRP in terms of accumulation. According to recent reports, over 4.3 million SOL — valued at around $905 million — has been scooped up by treasury-focused firms.
This growing demand highlights how institutional players are betting on SOL’s long-term value, even as XRP maintains its position as one of the top three cryptocurrencies by market cap.
Some of the notable firms investing in SOL include:
- SOL Strategies
- DeFi Development Corp (DFDV)
- Upexi (UPXI)
- Sharps Technologies (STSS)
In fact, Sharps Technologies recently secured $400M in capital with plans to expand to $1 billion worth of SOL acquisitions, signaling strong institutional conviction.
XRP Falls Behind in Treasury Demand
Unlike SOL, XRP has seen limited demand from corporate treasuries. So far, only SBI Holdings Japan and Worksport Ltd have shown interest in holding XRP as part of their reserves.
Also Read: XRP Falls 8% After SEC Cancels Closed-Door Talks
This disparity could have significant implications, especially as both assets are on track for potential Spot ETF approvals in the coming months. If the pattern continues, Solana could find itself in a better position to attract institutional inflows.
Solana Outpaces XRP in Recent Performance
While XRP outperformed SOL by over 400% since last November, recent data tells a different story. Over the past few weeks:
- SOL has outpaced XRP by 27% on price charts.
- Trading volumes for SOL-focused firms hit $4 billion in July, compared to XRP’s $460 million.
- SOL has also outperformed Ethereum (ETH) and Bitcoin (BTC) in the short term, bolstering its momentum heading into Q4.
Meanwhile, XRP has seen heavy whale profit-taking, though it did record the highest CME Futures interest, hinting at growing institutional appetite.
Can SOL Surpass XRP in Q4?
The XRP/SOL ratio, which tracks relative performance, suggests that SOL could continue to outperform XRP if current trends persist. If history repeats Ethereum’s treasury-driven rally, SOL may see similar growth as treasury demand expands.
Still, XRP remains a heavyweight with strong liquidity and institutional backing, making it premature to rule it out. The real catalyst for both assets will likely be Spot ETF approvals, which could drive a new wave of demand.
While XRP remains dominant in market cap, Solana’s growing adoption by crypto treasuries gives it a unique edge. If Spot ETFs gain approval, SOL’s institutional momentum could help it outpace XRP in Q4, reshaping the battle between the two altcoin giants.
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