Solana (SOL) Treasury Activity continues to draw institutional attention after Nasdaq-Bearing Consumer Mark Company Upexi Inc. Announced a new $ 500 million stock agreement on Monday. The facility, which is arranged with AGP/Alliance Global Partners, allows the company to issue a common share at its discretion, subject to certain closing conditions.
In a press release, Upexi said the funds will be used for general business purposes and to expand its Solana Treasury strategy, which has grown rapidly since the company began to accumulate sun earlier this year. The company emphasized that the plant includes “no obligation fee” and was negotiated “particularly friendly terms”, which offers what Upexi described as an attractive capital cost.
“The Equity line provides upexi additional funds and flexibility to raise capital and increase its Solana position,” said CEO Allan Marshall in release. “We now have a wealth of tools to raise capital in the most cost -effective and accordive way.”
The message follows Upexis July 21 – Devilation that it had acquired another 100,000 sun – funded through a private ranking of $ 200 million – which brought its total holdings to 1,818,809 sun worth approx. $ 331 million at that time. More than half of the tokens were purchased in locked form with a discount, resulting in an estimated unrealized gain of $ 58 million.
The company has since set up almost all its sun to earn the yield and projected up to $ 26 million in annual deployment revenue at the current rates. Upexi has also introduced a new benchmark, the “Basic MNAV”, which measures its market capital against the dollar value of its Sun Holdings. From July 18, the 1,2x ratio was stood.
The share issuing event gives the company additional space to scale its strategy, which potentially gives it a greater role in designing the market’s expectations around institutional Altcoin accumulation. Still showed Monday’s award for sun mixed atmosphere. According to Coindesk -Data, Sol 0.99% dropped to $ 187.35 in the last 24 hours.
The downturn followed a sharp reversal from Intraday heights, where strong sales pressure appeared during the afternoon session. However, the volume of spikes suggested late in the day to renewed interest from market participants, possibly placement in front of additional treasury updates or macro -latalysts.
Technical analysis highlights
- According to Coindesk Research’s Technical Analysis Data Model, Sol traded within a 24-hour range of $ 186.38 to $ 194.99, a 4.47% turn, from July 27 at 1 p.m. 16:00 UTC to July 28 at. 15:00 UTC.
- The price rose from $ 186.42 to $ 194.99 of 05:00 UTC on July 28 and got 4.59%before he met resistance.
- A sharp sale followed from 12:00 AM to 14:00 UTC as the price dropped from $ 192.82 to $ 187.38 on heavy volume exceeding 2.5 million units.
- In the last 60 minutes (14: 35–15: 34 UTC) Rebound Sol 0.78%and climbed from $ 187.34 to $ 188.81.
- During this recovery, the price consolidated between $ 187.15 and $ 188.94 before it broke over $ 188.50 resistance at 1 p.m. 15:22 UTC.
- Volume spiked to 39,417 units at 15:32 UTC, indicating institutional accumulation and suggesting potential for additional gains.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance with Our standards. For more information, see Coindesk’s full AI policy.
