The Solana$SOL quotes approached the mark of $200. The rise was fueled by the news of the purchase of 100,000 SOL by the Upexi platform.
At the time of writing, the coin is trading at $190.47, according to CoinGecko. Over the past week, the token has increased by 17%, and over the month — by 44%.
The total reserves of Upexi have reached 1,818,809 SOL worth $331 million. The company financed the deal by attracting $200 million in equity and convertible notes.
According to the press release, the company purchased more than half of the tokens at a discount. This resulted in $58 million in unrealized gains considering the price increase and discount. Almost all the coins have been sent to staking, and the platform expects an annual yield of $26 million at the current rate of 8%.
