Solana Treasury Stocks Mirror Meme Coin Crashes, Analyst Warns of 50% More Downside
Solana (SOL) treasury corporations have shed between 75% and 92% of their inventory worth since late 2025, because the token’s 34% year-to-date decline punishes concentrated digital asset methods.
Analyst Ted Pillows in contrast the worth motion of these corporations to that of meme cash on the Solana community, warning traders that the promoting might not be over.
“They are already down 80%-90%, however may go down one other 30%-50% earlier than the underside,” he said.
Forward Industries (FWDI), the largest institutional SOL holder with 6.9 million tokens, has seen its inventory plunge over 89% from a multi-year high close to $46 recorded in September.
CoinGecko data confirmed that the corporate bought SOL at a mean worth of round $230. Yet, with the token now trading near $82, the corporate carries over $1 billion in unrealized losses.
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Other corporations face related ache. Sol Strategies (STKE), which was listed on Nasdaq in September, has dropped over 92% since then. Sharps Technology’s inventory (STSS) is down roughly 89%, with the corporate carrying $225.45 million in paper losses. DeFi Development Corp (DFDV) has fallen round 75%, with $56.43 million in unrealized losses.
Pillows additionally highlighted that Ethereum treasury firms are showing relative near-term energy, doubtlessly attracting shopping for stress into ETH.
However, he cautioned that that is possible a short lived reprieve earlier than each ETH and its related treasury shares additionally transfer to new lows.
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Ultimately, sustained crypto asset restoration would ease balance-sheet stress throughout the sector. Without one, treasury corporations face rising questions on whether or not concentrated single-asset methods can survive extended drawdowns.
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