The Key Takeaways
What next for SOL DAT as its losses continue to rise?
It is important to monitor the risk of potential crypto selling due to mNAV’s collapse.
What is the size of SOL DAT?
As of October, the firms held a total of 16,000,000 SOL (or 2.8%) of the crypto-treasury markets.
Multiple Solana [SOL] Treasury firms reported massive losses that were not realized following recent events SOL price crash.
Forward Industries, for example, one of the largest SOL holders saw their unrealized potential. loss After a dramatic drop in the value of its holdings from $1.65 to $1.20, it has increased to 24%.
SOL’s price is down by 33% compared to the average firm purchase price, which was $232.
DeFi Corporations DFDV, another top SOL-DAT (digital assets treasury) had also double-digit nonrealized losses.
SOL Treasury situation worsens
On top of the losses, the mNAV (market-to-net-asset-value, a tracker for the multiples at which a company trades relative to its crypto assets.
A mNAV reading that is below the market value makes it difficult to raise capital and can be perceived as bearish.
mNAV is available as of this writing. collapsed Below 1 for SOL DAT Players except SOLAI(SLAI)
Source: Blockworks
It could turn into a crisis and an issue if the mNAV is below 1. This may force players to dump their cryptos in order to raise their stocks or mNAV.
SOL Treasury Holdings Hit Record High
The total holdings of the Treasury exceeded 16 millions SOL in October for the very first time, despite market pressure. In comparison to Bitcoin [BTC] The following are some examples of how to get started: Ethereum [ETH] SOL DATs accounted for 2.8% of the market.
In April the price climbed sharply from $130 to more than $220. Other words, the demand of treasury firm was constant in H2 2025.
Source: Blockworks
In the last two weeks, Binance’s top traders have reduced their long positions on the exchange from 71% down to 65% amid a bearish trend.
This cautious position was very similar to that seen in the aftermath of the flash crash on October 10. The long positions dropped as low as 63% at that time before steadily rebounding later.
CoinGlass
SOL may mark its bottom at $150. Or, it could slide to $120 as the next major support.
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Source: ambcrypto.com
