Solana
Why Solana is down 3.5% today
Analysis
Solana (SOL) fell ~3.5% over the past 24 hours as bearish sentiment was reinforced by The Block’s report that Solana-focused firm Upexi posted a $179 million loss, highlighting how the recent SOL price slide has hit treasury holdings despite revenue doubling. While CoinDesk noted Solana Foundation president Lily Liu promoting “internet capital markets” at Consensus Hong Kong 2026 and CryptoPotato covered Goldman Sachs’ disclosed crypto holdings including SOL, those items read more as contextual/longer-term narratives than immediate catalysts versus the negative treasury-loss headline.
Contributing Factors (3)
Solana DAT Upexi posts $179 million loss as SOL price slide hits treasury despite revenue doubling
Upexi said digital asset operations, mainly staking income, now account for the majority of company revenue.
Solana's Lily Liu champions internet capital markets at Consensus Hong Kong 2026
Fireside chat with Michael Lau spotlights finance focus, Asia's centrality, and revenue-driven growth
Goldman Sachs’ Crypto Portfolio: BTC, ETH, XRP, and SOL Holdings Revealed
The investment bank's positions are through crypto ETFs, not direct token holdings.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.