Solana (SOL) is showing strong momentum again, trading just under $200 as analysts predict a bullish breakout — potentially to $500. A major driver behind the renewed optimism: Upexi Inc. (NASDAQ: UPXI) now holds over 1.8 million SOL, worth approximately $331 million, following a $200 million capital raise.
Upexi Bets Big on Solana
On Monday, Upexi revealed it purchased an additional 100,000 SOL, bringing total holdings to 1,818,809 SOL. The company said over half of its tokens were acquired in locked form at a discount, resulting in an unrealized gain of $58 million from both token appreciation and discounted pricing.
“We believe this positions Upexi as an optimal vehicle for investors seeking exposure to digital assets,” said CEO Allan Marshall.
The company expects up to $26 million per year in staking rewards, based on the current 8% yield. Nearly all SOL tokens are staked, making Upexi one of the largest public firms actively generating yield from a major altcoin.
Analyst Targets $400–$500 SOL Price
Popular crypto analyst Christiaan posted on X that Solana is poised for a massive pump, predicting a price surge to $400–$500 in this market cycle.
This forecast follows a 47.6% monthly gain, with SOL up 30% in two weeks and 20% in the past week. At the time of writing, SOL trades around $198.33, down slightly from a recent peak of $205.99.
Technical View: Resistance Near $204, Support at $198
According to CoinDesk Research, SOL moved in an $11.48 range between July 22–23, with strong resistance forming near $203.81 after a spike in volume to 3.77M units.
SOL briefly breached the $200 support level late Tuesday as institutional selling emerged, dipping to $198.95.
Despite short-term volatility, the broader trend remains bullish, especially with growing corporate accumulation and strong staking fundamentals.
Outlook
With institutional accumulation, aggressive treasury strategies, and bullish analyst sentiment converging, Solana is emerging as one of the strongest altcoins this quarter. If momentum holds and key resistance levels are flipped, a $400–$500 target may be within reach during this cycle.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.