The listed company SkyAI, which holds a large amount of SOL, is currently embroiled in board disputes, which has led the market to re-evaluate the stability of the recent rebound of Solana. The company was formerly known as Sharps Technology and currently holds approximately 2.08 million SOL, valued at around 207 million US dollars according to the text. It is one of the larger enterprise-level holders of Solana in the public market.
Among them, SkyAI holds approximately 1.49 million tradable SOL, with another about 509,700 in a locked state, which are planned to be unlocked gradually before 2028. Due to the large scale of holdings, although changes in the governance of this company do not directly affect the operation of the Solana network, they may influence the market's perception of the narrative of "enterprises holding coins".
Shareholders intend to oppose the re-election of the board of directors
In June this year, Forward Industries proposed to acquire SkyAI through a share swap, offering a price that was higher than the market price at that time, but the proposal was unanimously rejected by the board of directors of SkyAI.
According to reports cited by The Block, a group of investors holding nearly 10% of the shares of SkyAI plan to oppose the re-election of the current board of directors as a whole before the annual general meeting on September 18. The reasons cited by this shareholder group include the weakening of shareholders' rights, the company's use of a "poison pill" arrangement, and issues related to related-party transactions.
The position size causes the event to spill over into expectations regarding coin prices.
The focus of this dispute was originally at the corporate governance level, but due to SkyAI holding a large amount of SOL, the incident was quickly interpreted by the market as a potential variable affecting the sentiment of Solana. The article argues that if the pressure on the holders of shares in this company continues, it may weaken the confidence of some funds in Solana related assets.
However, this event has not changed the fundamentals of the Solana chain itself, nor has it directly affected network operations, protocol revenue, or changes in on-chain activities. The impact is more likely to be reflected first in market expectations rather than in the basic data of the ecosystem.
The market is focusing on the range between $80 and $50.
The article mentions that SOL has rebounded from around $60 since mid-May, when the price found support near the lower edge of a descending wedge pattern. If the rebound continues, the price may continue to test higher levels.
However, if the upward momentum weakens, the market will first focus on the around $80 level. If the selling pressure further intensifies, prices could also drop back to near $50. The aforementioned range is derived from the description of technical support levels in the text and reflects the current market's concern regarding downside risks.
- SkyAI holds approximately 2.08 million SOL.
- Of these, approximately 1.49 million are tradable positions.
- Approximately 509,700 coins are locked and will be released before 2028.
