The SOL price has enjoyed a strong recovery, but a corporate treasury dispute could complicate the rally. SkyAI, formerly Sharps Technology, holds approximately 2.08 million SOL worth roughly $207 million, making it one of the largest public corporate holders of Solana.
The treasury includes about 1.49 million liquid SOL and roughly 509,650 locked SOL scheduled for release through 2028. That exposure gives SkyAI a meaningful connection to the Solana market. It also makes the company’s latest governance battle worth watching.
Forward Industries submitted an all-stock acquisition proposal for SkyAI at a premium in June 2026. SkyAI’s board unanimously rejected the offer.
The dispute didn’t end there. Activist shareholders, along with firms such as Bastion Trading and Forward Industries, have raised concerns about related-party transactions and urged shareholders to vote against current board members.
According to a post from The Block, a group holding nearly 10% of SkyAI plans to oppose the reelection of the entire board ahead of the September 18 annual meeting. The group has cited weakened shareholder rights, a “poison pill,” and related-party dealings.
The SOL price has been climbing since mid-May after finding support near $60, which aligned with the lower boundary of a falling-wedge pattern. A golden cross is also close to forming, potentially adding strength to the bullish setup.
If the rally continues, SOL could approach the falling wedge’s mid-band near $130 or move higher. But SkyAI’s governance dispute introduces another risk factor for sentiment surrounding Solana treasury companies.
The dispute doesn’t directly change Solana’s network fundamentals. Still, prolonged pressure around a major corporate holder could affect market confidence and demand.
If the SOL price loses momentum, the first downside level is around $80. A deeper sell-off could push SOL toward $50, which aligns with the lower support boundary of the falling wedge.
For now, the SOL price remains technically constructive above its key support. But with SkyAI’s shareholder vote approaching, traders may have to watch corporate governance as closely as the chart.
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