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Upexi increases its holding of Solana to 735,000 coins, stock price remains sluggish.
On July 8, Upexi is a company that has incorporated Solana into its corporate treasury assets. The company stated that as of the end of June, it held 735,692 SOL, an increase of 8.2% compared to May.
Since investors applied to sell millions of shares, Upexi's stock price has dropped by about 60% and has remained below $4 per share since then. Last month, the stock briefly soared above $15 but then fell back.
Upexi is one of the few companies attempting to replicate a successful treasury strategy centered around Bitcoin, but its focus is on altcoins like Solana. The stock price of the company has risen significantly along with the price of Bitcoin. Other companies that have adopted a strategy of accumulating Solana include DeFi Dev Corp and Canada’s SOL Strategies.