Four public companies have emerged as major institutional holders of Solana, controlling over 3.5 million SOL valued at more than $591 million.
Institutional Holders of Solana
According to a recent analysis by CoinGecko, Upexi, Inc., DeFi Developments Corp, SOL Strategies, and Torrent Capital collectively control nearly 0.65% of Solana's circulating supply and about 0.58% of the total supply. Upexi, Inc. has rapidly accumulated 1.9 million SOL over the past four months, making it the largest publicly disclosed holder.
Price Dynamics of Solana
Currently, the price of Solana has risen above $180, contributing to a broader market surge. Pseudonymous trader XO remarked that the current zone is critical for SOL's short-term price trajectory, despite the absence of a structure typically preferred for establishing a firm base.
Overview of Institutional Investors
Following Upexi, DeFi Developments holds 1,182,685 SOL, SOL Strategies comes next with 392,667 SOL, and Torrent Capital rounds out the list with 40,039 SOL. Each company has demonstrated confidence in its investments through various accumulation strategies.
Thus, companies continue to invest actively in Solana, which may indicate sustained interest in this crypto asset from institutional investors.
