The SOL price has experienced a significant recovery, but a dispute within a corporate treasury could complicate the current rally. SkyAI, formerly known as Sharps Technology, holds around 2.08 million SOL, valued at approximately $207 million, making it one of the largest public corporate holders of Solana.
SkyAI’s treasury includes about 1.49 million liquid SOL and roughly 509,650 locked SOL set to be released through 2028. This substantial exposure connects SkyAI to the Solana market and makes the ongoing governance battle within the company an important development to monitor.
SkyAI Shareholders Prepare For A Board Showdown
In June 2026, Forward Industries proposed an all-stock acquisition of SkyAI at a premium. However, SkyAI’s board unanimously rejected this offer, leading to further disputes. Activist shareholders, including firms like Bastion Trading and Forward Industries, have raised concerns about related-party transactions and are urging shareholders to vote against current board members.
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As reported by The Block, a group holding nearly 10% of SkyAI plans to oppose the reelection of the entire board before the September 18 annual meeting. Their concerns include weakened shareholder rights, a “poison pill,” and related-party transactions.
SOL Price Rally Now Faces A New Risk
The SOL price has been on an upward trend since mid-May, finding support near $60 and forming a falling wedge pattern. A potential golden cross formation could further strengthen the bullish outlook.
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If the current rally continues, SOL could target the mid-band of the falling wedge around $130 or higher. However, the governance dispute within SkyAI introduces a new risk factor for sentiment surrounding Solana’s treasury companies.
While the dispute does not directly impact Solana’s network fundamentals, sustained pressure on a major corporate holder could influence market confidence and demand.
SOL Price Could Revisit $80 Or Even $50
In case the SOL price loses momentum, the initial downside target is around $80. Further selling pressure could drive SOL towards $50, aligning with the lower support boundary of the falling wedge.
Currently, the SOL price remains technically positive above its key support level. However, with the approaching shareholder vote at SkyAI, traders may need to closely monitor corporate governance alongside the price chart.
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