Solana Holds Above $142 as Treasury Allocations Surge and Institutional Interest Grows
Solana (SOL) is trading 1.03% lower on Tuesday to $142.73, slipping amid light profit-taking but maintaining strong gains from the past month. The token is up 24% in the last 30 days and has attracted growing attention from institutional players looking to secure long-term exposure.
Two companies, Upexi Inc (NASDAQ:UPXI) and DeFi Development Corp (NASDAQ:JNVR), boosted their SOL treasuries.
Upexi announced that it has accumulated about 201,500 SOL tokens for $30 million at an average price of $148.47. The move comes less than two weeks after the company closed a $100 million private placement from leading crypto VCs and influencers. Upexi has more than $60 million remaining in cash, which it says it will deploy to acquire and stake additional SOL.
“Our goal is to acquire and HODL as many SOL as possible,” CEO Allan Marshall said in a statement. The company expects to generate up …
About The Author
