Upexi is doubling down on Solana despite a painful price retrenchment — filing with the U.S. SEC to raise up to $1 billion via shares, preferred stock and other units to bankroll an expanded Solana digital asset treasury (DAT). What Upexi is doing - The e‑commerce developer launched its SOL DAT in January and has aggressively accumulated 2.03 million SOL, currently worth about $254 million. Most of those purchases were made in H2 2025. (Source: DeFiLlama) - The SEC filing signals Upexi’s intent to use fresh capital to scale the DAT and potentially add to SOL exposure while prices are depressed. How the market moved against them - A sharp Solana price correction in late 2025 wiped a large chunk off the DAT’s value — holdings that once topped $500 million have been marked down to roughly $254 million. - Despite the drawdown, Upexi’s actions point to conviction and a strategy to “buy the dip” rather than retreat. Bigger-picture DAT demand and ETF flows - DAT activity surged in H2 2025: total SOL treasury holdings climbed from ~3 million in July to over 16 million by December — more than a fivefold increase in demand. (Source: Blockworks) - Paradoxically, the late‑2025 correction coincided with steady institutional demand via U.S. spot SOL ETFs. Since debuting in late October, those ETFs recorded roughly $750 million in cumulative weekly inflows despite the wider market slowdown. (Source: Soso Value) Price pain and what it means for investors - Solana plunged from about $295 to $120 — roughly a 58% drawdown — shrinking the share of supply held in profit from nearly 100% to a three‑year low of 18%. Glassnode data suggests that if SOL drops further, the market’s distress could approach levels seen during the 2022 FTX implosion. At the same time, the low profit‑supply metric implies current prices may be attractive for long‑term buyers. (Source: Glassnode) Technical hotspots to watch - A 1‑month liquidation heatmap highlights $120 and $130 as concentrated liquidity areas where leveraged positions (both shorts and longs) could be targeted during volatility. (Source: CoinAnk) - Immediate upside targets sit around $135–$137, while a break below $120 would put $100 on the radar as the next downside floor. Bottom line Upexi’s SEC filing and continued SOL accumulation underscore a bet on Solana’s long‑term prospects, even as short‑term market stress has materially reduced NAVs. Robust spot ETF inflows add a counterpoint of institutional demand, but the technical and on‑chain metrics show the ecosystem is navigating a tense period where further downside could trigger acute distress — and potential bargains for patient investors. Disclaimer: This article is informational and not investment advice. Cryptocurrency trading is high risk; do your own research before making financial decisions. © 2025 AMBCrypto Read more AI-generated news on: undefined/news

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