A Nasdaq-listed company that had built its balance sheet on Solana has held no SOL at all since October 16. SkyAI, known as Sharps Technology until the rename, has sold a little over 2 million SOL, sits on roughly $223.8 million in cash and is offering its own shareholders up to $201.3 million of that in a buyback. What counts for the price is less the quantity sold than the price at which this seller got out: $107.51 on average, net of fees. SOL trades at $106.32 on Tuesday evening, 1.1 percent below that mark.
This is no footnote from the world of US balance sheets. Six listed companies hold just over 17 million SOL between them, and whatever happens to those holdings feeds into the same order book that European investors buy in. Where the price may point over a horizon of months is covered in our Solana price prediction. This article answers the question that comes before it: what happens when a holder of that size closes the door from the inside.
SkyAI sells 2 million SOL: the sequence from October 11 to 16
In September the company still reported more than 2 million SOL. On October 11 it disclosed having sold around 1 mill...
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