Upexi, a Nasdaq-listed brand owner focusing on supply chain management, recently announced a $100 million raise designated for building a treasury strategy in Solana. Following this announcement on April 21, Upexi's shares surged by more than 630%, climbing from a close of $2.30 on April 17 to $16.79 at the time of writing. This massive jump was propelled by participation from several notable crypto venture capital firms, including the family office of Arthur Hayes and Delta Blockchain Fund. The funding round involved the sale of approximately 44 million shares at a price of $2.28. Despite reporting a profit of $3 million in the last quarter of 2024—down 34.8% from the previous year—Upexi's entry into the cryptocurrency sector marks a significant strategic pivot. The Solana blockchain, known for its speed and efficiency, is experiencing renewed interest, reinforcing Upexi's decision to invest in its treasury strategy.

Source 🔗