Key Insights:
- This Solana price prediction comes after SkyAI’s SOL crypto sale and as Alpenglow goes live on mainnet.
- Bastion Trading and affiliates own about 9.99% of SkyAI and questioned the oversight of the SOL liquidation.
- A 50% gain from $108 would take SOL to $162, matching the percentage in OxSweep’s August comparison.
The latest Solana price prediction focuses on SkyAI’s SOL crypto liquidation and Alpenglow’s reported mainnet launch as Solana traded above $108. The treasury company’s decision followed an earlier commitment to its digital asset strategy shortly before its annual shareholder meeting.
Meanwhile, Bastion Trading challenged the directors’ handling of the sale and sought changes to a cash tender offer.
SkyAI SOL Crypto Treasury Liquidation
Against that backdrop, SkyAI confirmed on October 19 that it has completed the sale of all its SOL holdings. Its cash position totaled approximately $223.8 million as of October 16, according to the company’s announcement.
Previously, on September 14, SkyAI had reaffirmed its commitment to a Solana digital asset treasury, or DAT, strategy. At the time of that statement, the company disclosed holdings of more than 2 million SOL tokens.
Notably, the reaffirmation arrived four days before SkyAI’s annual shareholder meeting and preceded the liquidation by roughly one month.
Following the treasury exit, Bastion Trading issued its criticism on October 21. The firm and its affiliates hold approximately 9.99% of SkyAI’s outstanding shares.
Bastion Demands Accountability Over SkyAI’s SOL Treasury Sale
In its statement, Bastion criticized the absence of advance notice to shareholders before the company sold the tokens. It also objected to SkyAI proceeding without shareholder input into the decision to sell the entire treasury.
Specifically, Bastion directed its request for a public explanation to the executive chairman and the relevant company directors. It asked them to address their oversight of the transactions and their decisions to approve the SOL sales.
That demand also extended to the approval of the cash tender offer. It called for voluntary resignations if those directors could not demonstrate meaningful accountability for their roles in these decisions.
Alternatively, the investor asked for a special shareholder meeting. Regarding the tender offer, SkyAI said the SOL Crypto sales would fund payments of $3 per share or an eligible warrant.
However, Bastion requested an increase to at least $3.50 for the cash tender offer, above SkyAI’s proposed price. It also sought permission to tender 100% of pre-funded warrants, rather than the 95% limit currently outlined.
Additionally, it wanted SkyAI to exclude insider-related strategic advisor warrants from the cash transaction. It presented these requested changes as a means of securing fairer treatment for investors participating in the offer.
Notably, while the firm is liquidating its SOL holdings, other financial firms like Grayscale are stacking more Solana.
Alpenglow Launch and Its Effect on Solana Price Prediction
Alongside those company developments, SolanaFloor reported that Alpenglow had gone live on Solana’s mainnet. The report described Alpenglow as the network’s most significant consensus upgrade to date.
Based on the reported figures, transaction finality fell from 12.8 seconds to as little as 394 milliseconds. The report also linked Alpenglow to improvements in user experience and scalability.
Solana Price Prediction Tracks SOL Crypto and OxSweep’s Fractal
While all the developments took place, SOL Crypto traded at $108.36, up 2.5% over 24 hours, within a $105.25–$108.77 range. Market capitalization stood at approximately $63.87 billion, while 24-hour trading volume reached $2.45 billion.
Within that period, SOL spent much of the time below $107 before a late rally lifted it above $108. Solana price faces an immediate resistance around $108.77–$109. That area combines the daily high with the next round-number price level.
Beyond that resistance, a sustained advance would strengthen the short-term recovery outlined in the Solana price prediction. On a pullback, $108 provided the level to watch, followed by the earlier trading area around $107. Below those levels, $105.25 is the daily low to watch for further weakness.
Separately, analyst OxSweep said on X that SOL’s current fractal resembled August’s pattern before a 50% rally.
Applying that percentage to the Solana price prediction would take SOL from $108 to approximately $162.
