Nasdaq-listed company, Upexi, has announced its purchase of an additional 56,000 Solana (SOL) worth around $7.8 million at today’s rates. The company currently holds 735,692 SOL worth around $103.44 million. Upexi is the largest SOL treasure company. The firm aims to hold as much SOL as possible.

Solana Continues To Glow Red Despite Interest

SOL has had a rough few months this year. The asset climbed to a peak of $293.31 on Jan. 19 of this year, but has fallen by more than 52% since. SOL is currently down by 3.4% in the daily charts, 4.5% in the weekly charts, 3.1% in the 14-day charts, and 19.3% over the previous month. Despite the lackluster performance in 2025, SOL has maintained some gains in the yearly charts, rallying 3.6% since June 2024.

Solana’s (SOL) current predicament could be due to increased volatility in the crypto market. While the market experienced a rebound after de-escalation in the Middle East conflict, we seem to have hit a barrier once again. Bitcoin (BTC) seems to be consolidating at the $107,000 level.

BTC’s rally is likely due to consistent institutional inflows. The lack of retail money may be one reason why the crypto market is struggling. Retail investors are still not confident. The Federal Reserve’s decision to keep interest rates unchanged may have also barred retail investors from taking risky moves.

Also Read: Solana Struggles Despite Being Named In US Asset Reserve List

Solana (SOL) could see an upswing over the coming weeks. The asset has a few spot ETF applications at the SEC. An ETF approval could lead to a spike in institutional money. Given the lack of retail investors, a rise in institutional inflows could be what drives the next SOL rally.

SOL could also see a rally if retail investors regain their confidence. A rate cut could have been the easiest way to bring more confidence to retail players. This possibility seems to be out of the picture for the time being.