Here is the updated version of the report in English, rewritten with a focus on institutional market exposure and financial impact:
Solana Corporate Holders Face Over $1.5 Billion in Unrealized Losses
A select group of publicly traded companies in the U.S. is feeling the heat as their Solana (SOL) reserves sink deep into the red. According to recent data from CoinGecko, these firms are currently weathering a combined unrealized loss exceeding $1.5 billion.
Concentrated Holdings and Deep Drawdowns
The exposure is concentrated among a handful of players who collectively control over 12 million SOL, representing roughly 2% of the token’s total circulating supply. The heavy losses stem primarily from aggressive acquisitions made during the market peak between July and October 2025.
Key Institutional Positions:
- Forward Industries: As the largest holder in this group, the firm accumulated 6.9 million SOL at a steep average price of $230. Its “paper” loss has now officially crossed the $1 billion mark.
- Sharps Technology: The company executed a massive single-entry buy worth $389 million at the height of the market. That portfolio is now valued at just $167 million, representing a 56.9% drop.
- Other Affected Firms: DeFi Development Corp., Upexi, and Solana Company are also navigating significant double-digit deficits.
Stock Market Fallout
Equity investors have reacted sharply to these balance sheet vulnerabilities. Over the past six months, shares of Forward Industries, DeFi Development Corp., and Sharps Technology have plummeted by 59% to 73%. Upexi has fared the worst, with its stock price collapsing by more than 81%.
Despite the immense pressure on their stock valuations and liquidity, on-chain data suggests a “diamond hands” approach. None of the top five institutional holders have moved their SOL to exchanges or signaled plans to liquidate, maintaining their positions through the ongoing volatility.
