Upexi increased its investments by purchasing 88.750 Solana.

Despite the recent fluctuations in the crypto market, Upexi (UPXI), a digital asset company traded on Nasdaq, reported a 4.4% increase in its investments in Solana (SOL). However, much of the company's profit was wiped out following a price decline. As of October 31, Upexi announced that it held a total of 2,106,989 Solana, representing an increase of 88,750 SOL compared to its previous report.

Examining the monthly data, by the end of October, Solana’s price stood at $188.56. With this price, Upexi’s treasury portfolio was valued at $397 million. The company purchased these assets at an average cost of $157.66, totaling $325 million. Consequently, Upexi had approximately $72 million in unrealized profits. However, the general decline in the crypto market on Monday caused Solana’s price to drop nearly 15%, falling to $160.94. This situation led to a decrease in the company's treasury value to $340 million, and its unrealized profit fell to $15 million.

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

Upexi earns approximately $75,000 daily by staking nearly all of its Solana holdings. 42% of the company's assets consist of locked SOLs, which have potential for additional earnings as they were acquired at a “discounted price compared to spot.” After joining Upexi from GSR, the company’s Strategy Director, Brian Rudick, stated, “We have a strong market multiple with robust trading volumes, and we will continue to leverage this for our shareholders.”