Key highlights:
- Public companies including Upexi, DeFi Development Corp, and Bit Mining have aggressively expanded their Solana (SOL) treasuries, collectively holding over 3.4 million SOL.
- Solana Mobile begins shipping its Seeker crypto smartphone to more than 50 countries, boasting upgraded hardware and decentralized features.
- CoinCodex predicts SOL could reach $199 by year-end, signaling continued bullish momentum.
Public firms accelerate Solana treasury acquisitions
A growing number of publicly traded companies are integrating Solana into their corporate treasuries, reflecting a broader trend of institutional interest in blockchain-native assets.
Upexi Inc. (UPXI), a consumer brand holding company, reported a 172% increase in its Solana holdings in July, reaching over 2 million SOL. The accumulation was financed by a $200 million capital raise through stock sales and convertible notes. Notably, a portion of Upexi’s purchases included discounted “locked SOL,” enabling additional value capture for shareholders.
“July was a game-changing month,” said Upexi CEO Allan Marshall, citing multiple high-volume purchases, including 100,000 SOL on July 21 and another 83,000 SOL just two days later. Upexi’s shares rose 56% during the month, further buoyed by an 8% staking yield and the firm’s deepening focus on digital assets alongside its consumer product portfolio.
DeFi Development Corp (DFDV), formerly Janover, has also doubled down on Solana. The Boca Raton-based firm increased its SOL treasury to 1.29 million tokens (valued at over $215 million), funded in part by a $5 billion equity line of credit. The company aims to eventually reach 1 SOL per outstanding share by 2028.
Bit Mining (BTCM) joined the fray as well, acquiring 27,191 SOL for $4.89 million and launching its first Solana validator as part of a broader $300 million expansion plan into the ecosystem. The move not only diversifies its crypto holdings but also supports network decentralization and staking rewards.
As of August 5, data from The Block indicates that public companies collectively hold over 3.4 million SOL, valued at more than $568 million.
Image source: The Block data dashboard.
Solana Mobile rolls out second-generation Seeker phone
Meanwhile, Solana Mobile has begun shipping its highly anticipated Seeker phone, the follow-up to its Saga device. With over 150,000 pre-orders and units now reaching customers in 50+ countries, the Seeker underscores Solana Labs’ ambitions in decentralized mobile technology.
Seekers officially start shipping today! Thank you for your support and belief in Solana Mobile since day one.
We’re sending tens of thousands of devices to 50+ countries around the world, so sit tight as your order makes its way through over the coming weeks. pic.twitter.com/dQtkWi26JB
— Seeker | Solana Mobile (@solanamobile) August 4, 2025
The Seeker features significant hardware upgrades and integrates onchain utilities including Seed Vault, a secure enclave for private keys and seed phrases. The device also comes preloaded with the Solana dApp Store and generates a Genesis Token that grants users early access to apps and SKR token rewards.
“What really sets Seeker apart is its onchain features,” said Emmett Hollyer, general manager at Solana Mobile. Central to this innovation is the TEEPIN (Trusted Execution Environment Platform Infrastructure Network) architecture, a decentralized system that governs device security, app access, and user verification.
Priced between $450 and $500, the Seeker is projected to generate at least $67.5 million in gross revenue. It follows the Saga, which struggled with sales until a surprise memecoin airdrop boosted its appeal. With the Seeker, Solana Mobile is aiming for long-term adoption through structural decentralization and real utility.
CoinCodex forecast: SOL expected to climb but not skyrocket
According to CoinCodex’s latest Solana price prediction, SOL is projected to maintain bullish momentum through the rest of 2025, though without explosive growth. The price of SOL is expected to peak at $199 by year-end, marking a 21.3% increase from its current value. The forecast aligns with the broader sentiment of cautious optimism surrounding Solana’s ecosystem growth and increasing institutional involvement.
As Solana continues to attract corporate treasuries and expand into new consumer tech verticals, it remains a network to watch closely in the evolving Web3 landscape.
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