Solana News Today: Sharps' Stock Dives 43% Amid $448M Solana Holdings; $100M Buyback Seeks Stability

Sharps Technology has launched a $100 million stock repurchase program, aiming to stabilize its share price amid a 43% decline since August despite its substantial Solana (SOL) treasury holdings. The company, which holds 2 million SOL tokens valued at approximately $448 million, announced the buyback through open market and negotiated transactions in a bid to reinforce shareholder value. The move follows a $400 million private investment in public equity (PIPE) deal in August, backed by ParaFi Capital, Pantera Capital, and Monarq Asset Management, to establish what it claims is the world's largest Solana treasury Sharps Technology Unveils $100M Solana Buyback – Are …^[1].

The repurchase program comes as Sharps' stock (STSS) trades at $6.67, down 1.68% in the past 24 hours and nearly 43% lower over the past month. This stark contrast with Solana's performance-SOL has surged 55.5% over three months to $228.04-has prompted the company to address equity volatility. Sharps' strategy aligns with its broader commitment to Solana's infrastructure, with executives emphasizing the blockchain's high throughput and low-cost settlement capabilities as critical for institutional finance. Chief Investment Officer Alice Zhang described Solana as "setting the standard for digital infrastructure" and highlighted "accelerating institutional adoption" as a key driver of its treasury strategy Sharps Technology Announces $100 Million Stock Repurchase …^[2].

Sharps' Solana holdings were further bolstered by a $50 million agreement with the Solana Foundation to purchase SOL at a 15% discount to the 30-day average price. This partnership underscores the company's alignment with the foundation's vision to position Solana as a financial infrastructure layer. The firm has also partnered with Crypto.com to manage its digital assets through institutional custody infrastructure, signaling a focus on professional-grade risk management for its crypto reserves Solana Treasury Firms Announce $100 Million Stock Buyback …^[3].

The buyback announcement coincides with broader market activity among Solana-focused treasuries. DeFi Development, another major Solana treasury, recently expanded its stock repurchase program to $100 million, reflecting a shared strategy to balance crypto investments with traditional corporate finance. Analysts note that Solana's recent outperformance against Ethereum-up 26% in September compared to ETH's 8%-has intensified institutional interest. Upgrades like Firedancer and Alpenglow, along with potential regulatory developments, could further catalyze Solana's growth Leading Solana treasury company Sharps Technology announces …^[4].

Market observers highlight the October 10 U.S. Securities and Exchange Commission (SEC) decision on a potential Solana ETF as a pivotal event. A favorable ruling could trigger a "giga rally" for SOL, according to PoobahAI's Dana Love, while Ethereum's institutional adoption and stablecoin ecosystem continue to anchor its long-term appeal. Sharps' dual focus on stabilizing its equity and leveraging Solana's technological advantages illustrates the growing integration of blockchain infrastructure into corporate treasury strategies Solana Treasury Sharps Technology Fights Share Price Drop With …^[5].