Solana’s recent price recovery has given traders something to cheer about. But a boardroom fight at SkyAI, the company formerly known as Sharps Technology, is adding a new layer of uncertainty to the $SOL market.
Why SkyAI Matters to Solana
SkyAI holds about 2.08 million $SOL, worth roughly $207 million. That makes it one of the largest public corporate holders of Solana. The treasury includes around 1.49 million liquid $SOL and about 509,650 locked $SOL set for release through 2028.
That exposure does not change Solana’s base network. Still, it ties a large chunk of SOL to one company’s decisions and shareholder mood. If that mood sours, sentiment around similar treasury companies could feel it too.
The Board Fight
Forward Industries made an all-stock acquisition offer for SkyAI at a premium in June 2026. SkyAI’s board rejected it without dissent. The fight did not stop there.
Activist shareholders, including Bastion Trading and Forward Industries, have raised questions about related-party transactions. They want shareholders to vote against current board members. A group holding nearly 10% of SkyAI plans to oppose the reelection of the entire board at the September 18 annual meeting. The group points to weakened shareholder rights, a poison pill, and related-party dealings, according to a post from The Block.
That is a governance story more than a Solana story. But the two are hard to separate when the company holds so much $SOL.
Solana Price Setup
$SOL has been climbing since mid-May after finding support near $60. That level lined up with the lower boundary of a falling-wedge pattern. A golden cross is also close to forming, which could add strength to the bullish setup if it confirms.
If the rally continues, $SOL may approach the falling wedge’s mid-band near $130 or move higher. On the downside, the first level to watch is around $80. A deeper sell-off could push $SOL toward $50, which matches the lower support boundary of the falling wedge.
What Traders Face
For now, $SOL remains technically constructive above key support. But the SkyAI vote is approaching, and corporate governance may matter as much as the chart. A prolonged dispute around a major holder could weigh on market confidence and demand, even if Solana’s network fundamentals stay intact. Traders may need to watch both price levels and boardroom headlines in the weeks ahead.
