Nasdaq’s Upexi to Add $500 Million in Solana as $SNORT Presale Raises $2.5M

Key Takeaways:

• Nasdaq-listed consumer company Upexi announced an equity line agreement with Alliance Global Partners.
• This will allow Upexi to sell up to $500M of its common stock, where a portion of the proceeds will go towards purchasing $SOL.
• The company already owns over 1.8M $SOL and is estimated to earn $26M annually in staking revenue.

The crypto space continues to attract institutional investors as Nasdaq-listed company Upexi upped its Solana ($SOL) bet with an equity line agreement worth $500M.

A consumer products company, Upexi joins a growing list of companies increasing their crypto investments, which includes Strategy, Metaplanet, and BlackRock.

This should spell good news for the likes of Snorter Token ($SNORT), a trading bot for Solana.

Upexi Doubles Down on Solana with $500M Equity Line Agreement

In a statement released yesterday, Upexi announced that it has entered an equity line agreement with Alliance Global Partners. This allows Upexi to sell up to $500M of its common stock, with a portion of the proceeds to be used to purchase more $SOL.

The announcement follows the company’s statement last week that it bought 100K $SOL, which brought its total holdings to 1,818,809 $SOL valued at $331M at the time of the purchase.

All acquired $SOL are then staked, which Upexi estimates will generate $26M in annual staking revenue.

With its speed and low transaction costs, Solana has become an attractive investment among companies looking to ride the current surge in the crypto market.

The coin has been down by 2.96% in the last 24 hours and is currently trading at $186.46 according to data from CoinMarketCap.

Snorter Token Continues to Surge as It Raises $2.5M

Aside from whales, smaller investors also love Solana as it is the de facto home of meme coins. But finding the next big thing on this chain is proving to be increasingly difficult as more coins are launched.

Hackers and scammers are also capitalizing on the demand for these hot tokens, making an already risky investment even riskier. Add to that the unfair advantage that bots and whales have, and it seems ordinary buyers have no chance of competing.

Snorter Token ($SNORT) wants to change that.

Its developing Snorter Bot, a Telegram-based trading bot for Solana that makes it safe and easy for everyone to find and grab up-and-coming meme coins.

Using the bot, you can put up a good fight against bots and whales. It will also come equipped with a rugpull and honeypot detection feature to keep your funds away from the filthy hands of scammers and hackers.

Of course, you’ll also have the ability to do pretty much all of your trading within the Telegram app. You’ll be able to copy trades, manage your portfolio, and more. Forget jumping from one platform to another when you have Snorter Bot.

To get the most out of the bot, consider buying its native $SNORT token, available at the official Snorter Token presale.

Each token costs a very affordable $0.0995, which comes with plenty of perks, including low transaction fees, unlimited snipes, governance rights, and other community incentives.

If you prefer, you can stake your tokens too to earn passive rewards. The reward rate is currently at 167% p.a., which translates to a considerable return for supporting the project early.

To date, the Snorter Token presale has already raised a whopping $2.5 and is well on its way to hitting its next target price of over $2.9M.

But with a price increase happening in about two hours, it’s best to grab your $SNORT tokens while they’re this cheap.

The Crypto Hype Train’s Here and We’re All In It for the Gains

Upexi isn’t the first nor the last company to pin its hopes on cryptocurrencies. The day of owning digital assets as a niche hobby is over, and institutional investors are looking to grab their slice of this pie.

While there’s no telling how long this trend will continue, what’s certain is that projects like Snorter Token ($SNORT) will come out as winners in the long term.

Disclaimer: Do your research before you invest. This is not investment advice.