SkyAI (SKYA), a Nasdaq-listed company described as a SOL treasury holder, is liquidating its SOL reserves, according to monitoring cited by ChainCatcher and on-chain analyst Ember. About half an hour before the report, the company transferred 211,623 SOL to Coinbase Prime. SkyAI said in an announcement released yesterday that it had recently sold about 1 million SOL. Including the roughly 211,600 SOL moved to the trading platform today, the company is estimated to have sold about 1.25 million SOL over the past five days, with a value of about $138 million at current prices. According to the company’s announcement, the sale of its SOL reserves is intended to fund a repurchase of 95% of its issued shares. The report did not provide more details on execution timing beyond the transfer observed around half an hour earlier.
SkyAI (SKYA), a Nasdaq-listed SOL treasury company, is liquidating its SOL reserves, according to ChainCatcher, citing on-chain analyst Ember.
About half an hour before the report, the company transferred 211,623 SOL to Coinbase Prime.
In an announcement released yesterday, SKYA said it had recently sold about 1 million SOL. Including the roughly 211,600 SOL sent to the trading platform today, the company is estimated to have sold about 1.25 million SOL over the past five days, worth about $138 million at current prices.
According to the company’s announcement, the sale of its SOL reserves is meant to repurchase 95% of its issued shares.
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