Solana: a Nasdaq company sells all 2 million SOL, and $107.51 is the level that decides

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.SkyAI has sold its entire holding of just over 2 million SOL and is offering shareholders $201.3 million in a buyback. The exit price of $107.51 is the level the Solana price now has to measure itself against.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 o...