Upexi increased its investments by purchasing 88.750 Solana.

Despite the recent fluctuations in the crypto market, Upexi (UPXI), a digital asset company listed on the Nasdaq, indicated a 4.4% increase in its investments in Solana (SOL). However, following a price drop, a significant portion of the company’s profits vanished. As of October 31, Upexi announced that it held a total of 2,106,989 Solana, which represents an increase of 88,750 SOL compared to its previous report.

When examining monthly data, by the end of October, the price of Solana was at $188.56. With this price, Upexi’s treasury portfolio was valued at $397 million. The company purchased these assets at an average price of $157.66, costing a total of $325 million. Thus, Upexi had approximately $72 million in unrealized gains. However, the decline in the general crypto market on Monday caused Solana’s price to drop nearly 15%, falling to $160.94. This situation resulted in the company’s treasury value decreasing to $340 million, and the unrealized profit fell to $15 million.

While there has been a general decline in the stocks of crypto asset companies, Upexi’s shares have also lost 75% of their value from their peak this year. The company's market value/net asset value ratio has now decreased to 0.7. Upexi CEO Allan Marshall reassured investors by stating, “Even though the market is weak, we remain committed to our goal of creating value for shareholders in the long term.”

Upexi generates approximately $75,000 in daily income by staking almost all of its Solanas. 42% of the company’s assets consist of locked SOL, which are expected to provide additional profit potential due to being purchased at a discount to the “spot price.” After joining Upexi from GSR, the company’s Strategy Director Brian Rudick stated, “We have a strong market multiple with solid trading volumes and will continue to leverage this for our shareholders.”