Solana Treasury Activity (Sun) continues to attract institutional attention after the consumer brand company listed on NASDAQ, UPEXI Inc., announced a new capital line agreement of $ 500 million on Monday. The installation, organized with AGP/Alliance Global Partners, allows the company to issue ordinary shares to its discretion, subject to certain closing conditions.
In a press release, Upexi said the funds will be used for general corporate purposes and to expand its Solana Treasury strategy, which has grown quickly since the company began to accumulate sun earlier this year. The firm emphasized that the installation includes “without commitment rate” and was negotiated on “particularly friendly terms”, offering what Upexi described as an attractive cost of capital.
“The capital line gives UPEXI additional means and flexibility to increase capital and increase its Solana position,” said CEO Allan Marshall in the statement. “Now we have a multitude of tools to raise capital in the most profitable and accumulated way.”
The announcement follows the dissemination of July 21, Upexi that had acquired another 100,000 Sol, financed through a private placement of $ 200 million, which raises its total holdings to 1,818,809 Sun worth approximately $ 331 million at that time. More than half of the tokens were bought blocked with a discount, which resulted in an estimated unrealized gain of $ 58 million.
Since then, the company has opted almost all its sun to gain performance, projecting up to $ 26 million in annual revenues to current rates. Upexi has also introduced a new reference point, the “basic MNAV”, which measures its market capitalization against the dollars of its sun holdings. As of July 18, that proportion was 1.2x.
The Actions issuance agreement gives the company additional space to climb its strategy, which potentially gives it a more important role in the configuration of market expectations around the institutional accumulation of Altcoin. Even so, Monday’s price action showed a mixed feeling. According to Coindesk data, Sol decreased 0.99% to $ 187.35 in the last 24 hours.
The recession followed a strong investment of the maximums intradic, with a strong sales pressure that emerges during the afternoon session. However, the volume peaks at the end of the day hinted at a renewed interest of the market participants, possibly positioning before new treasure updates or macro catalysts.
TECHNICAL ANALYSIS
- According to the technical analysis model of Coindesk Research, Sol was negotiated within a 24 -hour range of $ 186.38 to $ 194.99, a 4.47%swing, from July 27 to 4:00 p.m. UTC until July 28 at 3:00 p.m. UTC.
- The price was recovered from $ 186.42 to $ 194.99 at 05:00 UTC on July 28, winning 4.59% before finding resistance.
- A strong sale of 12:00 UTC at 14:00 UTC, since the price fell from $ 192.82 to $ 187.38 in a heavy volume greater than 2.5 million units.
- In the last 60 minutes (14: 35–15: 34 UTC), Sol recovered from 0.78%, rising from $ 187.34 to $ 188.81.
- During this recovery, the price was consolidated between $ 187.15 and $ 188.94 before breaking over the resistance of $ 188.50 at 15:22 UTC.
- The volume increased to 39,417 units at 15:32 UTC, indicating institutional accumulation and suggests potential for higher profits.
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