Upexi Stock Plummets 61.2% Amid Massive Sell-Off Despite Holding 679,677 SOL in Solana Treasury

On June 24th, U.S.-listed crypto firm Upexi, known for managing the Solana treasury, experienced a significant intraday decline of 61.2%, with shares falling to $3.85. The company, which had successfully raised $100 million to support Solana’s ecosystem, currently holds a substantial reserve of 679,677 SOL tokens. Market data reveals that the sharp sell-off was triggered by investors registering to offload 43.85 million shares, matching the initial public float from April. This large-scale liquidation reflects heightened market activity and investor repositioning within the crypto sector. Upexi’s stock volatility underscores the challenges faced by blockchain-focused treasury firms navigating fluctuating investor sentiment and liquidity dynamics in the evolving digital asset landscape.