🩸 $1.5 billion evaporated

U.S. stocks of "Solana concept stocks" are being liquidated

PANews February 10 news——

Publicly traded companies in the U.S. that hold SOL,

book losses have exceeded $1.5 billion.

They collectively hold:

📌 12 million SOL

📌 About 2% of total supply

📉 Stock prices have plummeted 59%-80% in the past 6 months

This is not an ordinary correction.

This is pressure at the balance sheet level.

💣 When “companies trade coins” meet a bear market

Forward Industries:

Holds 6.9 million SOL

Average cost $230

Current price ≈ $83.95

Book losses exceed $1 billion

Sharps Technology:

Purchased at a value of $389 million

Now only $169 million remains

A decline of over 56%

The question arises:

When the stock price of a listed company

falls worse than the coin itself—

The capital market begins to reprice.

📉 Why do stocks fall harder?

Because holding coins by a company ≠ simply holding coins.

It adds:

1️⃣ Leverage financing risk

2️⃣ Shareholder confidence risk

3️⃣ Refinancing ability risk

4️⃣ Impairment pressure from financial reports

Coin declines are market behavior.

Company holding losses are credit behavior.

Once credit is damaged:

Financing costs rise

Stock price discounts widen

Assets are forced to be sold

This is a "chain reaction."

🧊 Is this a signal of asset winter?

Current SOL ≈ $83.95

The market is repricing:

✔ How much are coin-holding companies worth?

✔ How long can the balance sheet hold up?

✔ Will there be forced selling?

When stock declines

exceed the coin's decline—

It indicates that the market no longer believes in the "long-term narrative."

🧠 A real reminder for retail investors

Many people once saw "listed companies buying coins"

as a bull market signal.

But the reality is:

Companies can also buy at high positions.

Companies can also be trapped.

Companies can also pause increasing holdings.

(Solana Company has stopped increasing holdings since October 2025.)

🩸 What is the truly dangerous phase?

Not the decline in coin price.

But rather:

📉 Company stock price plummets

📉 Financing ability declines

📉 Forced to reduce holdings

When the main body holding coins starts to waver,

the market will enter a "confidence collapse period."

⚠️ Stay calm

The crypto circle is not just about technical charts.

There are also:

Capital structure

Financial report pressure

Liquidity risk

⚠️ Risk warning:

Cryptocurrency assets are highly volatile,

Companies holding coins involve financial and credit risks,

Please do not view corporate coin purchasing behavior as a one-sided positive signal. $BTC