Upexi Shares Decline Following $1 Billion Filing to Enhance Solana Treasury

Upexi Shares Slide After $1B Filing to Expand Solana Treasury

Shares of Upexi encountered a significant drop on Tuesday after the company submitted a filing to raise up to $1 billion. This initiative is focused on enhancing its Solana treasury and funding various token-related projects.

Key Takeaways:

Upexi's share prices decreased following the announcement of a $1 billion capital raise for expanding its Solana treasury.
The company possesses 2.1 million SOL, valued at around $262 million, but has halted purchases amid a downturn in the market.
The value of Upexi’s treasury has decreased by more than half due to falling Solana prices.

Following the filing, Upexi's stock closed down 7.5% at $1.84 but experienced a partial recovery during after-hours trading, climbing 4.3% to $1.92 according to Google Finance data.

In a shelf registration statement filed with the U.S. Securities and Exchange Commission, Upexi indicated that the offering might include a mix of common and preferred stock, debt securities, warrants, and investment units issued over time.

Upexi Shifts to Solana Treasury Focus with $262M in SOL Holdings

The funds raised will be allocated for general corporate purposes, primarily focusing on acquiring Solana tokens and staking them for additional yield.

Currently, Upexi holds 2.1 million SOL, which equates to approximately $262.3 million, making it the fourth-largest corporate holder of Solana, based on data from CoinGecko.

The company's strategy pivoted towards Solana in late April, moving away from its prior focus on consumer products and e-commerce.

However, Upexi has not expanded its Solana holdings since July 23, reflecting a broader slowdown in corporate crypto treasury purchases in the latter half of 2025.

This reduction is occurring as digital asset prices decline and investor confidence in treasury-linked crypto strategies like Upexi’s diminishes.

Upexi’s Solana holdings have dramatically decreased along with the token's price. At its peak in mid-September, the company’s SOL treasury was valued at approximately $525 million.

Despite the current lows, Upexi faces an estimated paper loss of about 19%, given Solana's trading value near $123.75, which is down 57.5% from its all-time high of $293.31 recorded in January 2025, according to CoinGecko data.

The filing highlights the risks that companies face when closely tying their balance sheets to the volatile nature of digital assets, even as some organizations continue to aggressively accumulate in anticipation of a market recovery.

Solana Successfully Withstands One of the Largest DDoS Attacks Ever

In a significant development, Solana has effectively resisted a substantial distributed denial-of-service (DDoS) attack that peaked at nearly 6 terabits per second, categorizing it as one of the largest recorded on the internet.

The attack, which spanned over a week, did not disrupt Solana's network activities, allowing it to process transactions smoothly and maintain sub-second confirmation times, as reported by SolanaFloor.

This incident positions Solana alongside major centralized service providers like Google Cloud, Cloudflare, and AWS, which have also faced large-scale DDoS attacks in the past.

Despite the enormous traffic, Solana’s validators and core infrastructure managed to handle the load without any performance issues, demonstrating considerable improvements in the network’s resilience compared to earlier instances of congestion and outages.