Upexi, a Nasdaq-listed company, has stepped up its bet on Solana by forming a new advisory committee and naming Arthur Hayes as its first member.
Reports have disclosed the relocate came with a clear push to support the firm’s large Solana treasury, which has drawn attention from investors and rival corporate treasuries alike.
Upexi Deepens Its Solana Bet
According to Upexi’s own filings and public statements, the company now holds over 2 million SOL in its treasury. That stake has been built quickly through multiple purchases and capital raises, and publications place its value in the hundreds of millions of dollars depfinishing on the SOL price applyd.
Upexi declares it is also utilizing staking to earn yield from the holdings, a relocate meant to add steady income as it holds the tokens.
upexi forms advisory committee, welcoming arthur hayes (@CryptoHayes) as first member
arthur is cio of @maelstromfund and brings deep digital asset and institutional finance expertise
committee will drive strategy, expand visibility, and unlock capital for our $SOL treasury… pic.twitter.com/lBtzxziL3r
Upexi’s hiring of Arthur Hayes — a high-profile figure in crypto circles — is meant to sharpen strategy and assist unlock more capital for the firm’s purchase plans.
Reports declare the advisory committee will guide visibility, partnerships and capital-raising for acquisitions tied to the treasury effort. The relocate has already assisted lift investor interest in the company’s stock.
Other Public Firms Join The Push
Beyond Upexi, other public companies have built clear Solana bets. Based on reports, DeFi Development Corp. has increased its holdings to nearly a million SOL units after a fresh round of purchases and financing.
That placement puts it among the largegest corporate Solana holders and gives it meaningful exposure to the altcoin’s price relocates.
Meanwhile, crypto miner BIT Mining disclosed purchases around 27,190 SOL and has stated it will convert existing crypto holdings to focus on SOL while also launching a validator to stake tokens.
These corporate relocates are not just headlines. They represent predictable, on-balance-sheet demand that can tighten the available supply held by retail traders and exmodifys.
At the same time, concentrated positions raise questions about what would happen if any of these holders decided to modify strategy or sell quickly.Market Moves And Technical Signs
Market data reveals SOL trading back around the $200 mark after a strong daily gain, and daily volumes have spiked as traders pile in.
Price sites report roughly a mid-$100-billion market capitalization for SOL and daily turnover in the low double-digit billions, figures that underline how large the token’s market has become.
Technical commentators have pointed to shifting average crossovers and other bullish setups as reasons traders are optimistic right now.
Featured image from SolanaFloor, chart from TradingView
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