DeFi Development Corp., a Nasdaq-listed Solana treasury company, reported a 108% increase in its fully converted SOL per share over the past year, despite Solana's recent price struggles. As of May 13, 2026, the SOL per share rose from 0.0322 to 0.0670. This growth occurred during a challenging period for Solana, particularly in early 2026, when the cryptocurrency faced bearish momentum. The company holds 2,294,576 SOL and SOL equivalents, with approximately 34.2 million fully converted shares outstanding. Notably, DeFi Development Corp. deploys over 25% of its treasury onchain, generating a 7.5% yield from validator operations, compared to 3.9% from staking through Coinbase. This strategy has resulted in an estimated $7.6 million in annualized incremental yield. DeFi Development Corp.'s approach reflects a growing corporate treasury interest in Solana, similar to Bitcoin and Ethereum. The company's strategy involves accumulating SOL, staking, and deploying it across Solana DeFi, indicating a structured demand beyond typical spot-market buying. Other companies, such as Forward Industries and Upexi Inc., also hold significant SOL reserves, suggesting a stable, long-term demand base for Solana.