Solana Strategic Reserve has announced a new way to estimate net asset value (NAV), offering two new metrics: MNAV (market capitalization 26 book value) and SolNav (market capitalization 26 Sol Holdings). This action is a follow-up of investors' confusion regarding the way Cryptocurrency values are used to traditional finance. Compared to traditional NAV calculations that do not include intangible assets, SolNav's formula reveals only the Sol token balance of Solana, increasing the visibility of assets to investors, and gives you a better understanding of what core values are.
The implementation of Solnav is supported by President Trump's declaration of the US Crypto-Sales in March 2025. The announcement has led to a 25% increase in Solana's price, paying many people who increase strategic value and make their valuation in the crypto space even more clear.
Mnav vs Solnav comparison
Traditional financial technology is applied to MNAV.
MNAV = Market capitalization ÷ (asset minus liability).
This explains everything on the balance sheet, including the operation of the Baltator and other revenue. Nevertheless, critics say it doesn't fully represent the volatile and financially oriented nature of the crypto.
Instead, Solnav separates Sorana's financial value.
Market capitalization Sol Holdings = solnav.
For example, using data in Solana Reserve:
- Market Cap: $393.4m
- Sol Holdings: 1.42m Sol×$193.27 = $274.4m
- solnav≈ 1.43
Meaning of solnav expression
The emergence of Solnav has caused some controversy in the crypto community. Some analysts feel that Solnav overlooks other business assets, while others feel that it is merely an open way of operating.
As of August 18, 2025, Sol Trading was around 195, Solana's Treasury Ministry was worth about 277m, and Solnav is still at nearly 1.43. The 1x price on Solana Reserve is more conservative and consistent compared to other organizations such as Defi Development Corp, which has a trade price of 1.8 times at Sol Holdings. Taking this innovation when US crypto reserves are changing global fiscal patterns and including SoL provides important premise status in the field of geopolitics.
