Solana Faces $50 Risk as SkyAI Board Fight Heats Up

Solana has been on a solid winning streak lately, but a new corporate drama might put the brakes on its recovery. SkyAI, a company formerly known as Sharps Technology, is currently caught in a heated board dispute. This matters because the company holds a massive amount of SOL in its treasury, making it one of the largest public holders of the token.

According to recent filings, SkyAI owns about 2.08 million SOL, which is worth around $207 million at current market prices. The stash includes roughly 1.49 million tokens that are ready to trade immediately, while another 509,000 tokens are still locked up. If the internal fighting leads to a forced sell off or a sudden shift in strategy, the market could see a huge amount of supply hit the exchanges.

Traders are watching the situation closely because a sudden dump of over a million tokens could drag the price down significantly. Some analysts suggest that if panic sets in, SOL could even test the $50 level. For now, the market is waiting to see if the board can reach an agreement or if this corporate friction will translate into heavy selling pressure.